VAIL, Colo. - October 27, 2003 - Vail Resorts, Inc. (NYSE: MTN) announced today that it is filing Form 12b-25 to extend the filing date of its annual report on Form 10-K, in order to allow more time for the Company and its auditors to complete the 2003 fiscal year-end audit. The extension allows the Company to file its annual results on or before November 13, 2003. The Company also announced that it will issue an advisory as soon as the date for its fiscal year-end earnings release has been determined.

Vail Resorts, Inc. is the premier mountain resort operator in North America. The Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado, Heavenly Resort in California and Nevada and the Grand Teton Lodge Company in Jackson Hole, Wyoming. In addition, the Company's RockResorts luxury resort hotel company operates 10 resort hotels throughout the United States. The Vail Resorts corporate website is www.vailresorts.com and the consumer websites are www.snow.com and www.rockresorts.com. Vail Resorts, Inc. is a publicly held company traded on the New York Stock Exchange (NYSE: MTN).

Statements in this press release, other than statements of historical information, are forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Vail Resorts Contacts:

Investor Relations:
Leslie Roubos
(970) 845-2958
lroubos@vailresorts.com

Media:
Kelly Ladyga
(970) 845-5720
kladyga@vailresorts.com