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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
Lee Thomas H.
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(Last) (First) (Middle)
Thomas H. Lee Company, 75 State Street, 26th Floor
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(Street)
Boston, MA 02109
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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 19,400
I (1)
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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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Stock Option
(Right to Buy) 6/30/95 12/31/97 Common Stock
200,000 $6.85 D
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Explanation of Responses:
(1) These shares are owned by the Stephen Zachary Lee 1988
Irrevocable Trust
(as to 9,720 shares) and the Robert Shiff Lee 1988 Irrevocable
Trust (as
to 9,720 shares) of which the reporting person is the settlor
for the
benefit of the reporting person's sons. The reporting person
disclaims
beneficial ownership of such shares.
/s/ Thomas H. Lee
2/7/97
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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.
