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OMB
APPROVAL
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OMB Number
3235-0104
Expires:
April 30, 1997
Estimated average
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934,
Section 17(a) of the Public Utility Holding Company Act of
1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Black Leon D.
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(Last) (First) (Middle)
1301 Avenue of the Americas
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(Street)
New York, NY 10019
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
2/3/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Vail Resorts, Inc. ("MTN")
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other
(specify below)
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6. If Amendment, Date of Original (Month/Year)
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Table I -- Non-Derivative Securities Beneficially
Owned
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3.
Ownership Form:
2. Amount of Securities
Direct (D) or
1. Title of Security Beneficially Owned
Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4)
(Instr. 5) (Instr.5)
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Common Stock 0
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Class A Common Stock 0
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Reminder: Report on a separate line for each class of securities
beneficially
owned directly or indirectly.
(Print or Type Responses)
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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5. Owner-
3. Title and
Amount of Securities ship
Underlying
Derivative Security Form of
2. Date Exercisable (Instr. 4)
Derivative
and Expiration Date
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(Month/Day/Year)
Amount sion or Direct 7. Nature
of
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or Exercise (D) or
Indirect
Date Expira-
Number Price of Indirect
Beneficial
1. Title of Security Exer- tion
of Derivative (I)
Ownership
(Instr. 4) cisable Date Title
Shares Security (Instr.5) (Instr.
5)
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Option to Purchase Common Stock
0
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Option to Purchase Class A Common
Stock 0
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Explanation of Responses:
Apollo Ski Partners, L.P., a Delaware limited partnership
("Apollo Ski") owns
directly 11,639,542 shares of Class A common stock of Vail
Resorts, Inc. (the
"Company"). The general partner of Apollo Ski is Apollo Investment
Fund, L.P., a
Delaware limited partnership (the "Fund") whose managing
general partner is
Apollo Advisors, L.P., a Delaware limited partnership
("Advisors"), whose
general partner is Apollo Capital Management, Inc. The Reporting
Person is a
principal of Advisors. As permitted by the SEC rules, the
number of shares
reported includes shares in excess of the proportionate pecuniary
interest, if
any, of the Reporting Person in the equity securities of the
Company.
The filing of this Statement shall not be deemed an admission that
the Reporting
Person, for the purposes of Section 16 of the Securities Exchange
Act of 1934,
as amended, is a beneficial owner of or has any pecuniary
interest in, any
equity security covered by this Statement.
/s/ Leon D. Black
2/4/97
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**Signature of Reporting Person
Date
** Intentional misstatements or omissions of facts constitute
Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be
manually signed.
If space provided is insufficient. See Instruction 6 for
procedure.
