UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of
1934
Date
of
Report (Date of Earliest Event Reported): March
30, 2007
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Vail
Resorts, Inc.
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(Exact
name of registrant as specified in its charter)
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Delaware
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1-9614
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51-0291762
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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390
Interlocken Crescent, Suite 1000,
Broomfield,
Colorado
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80021
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code:
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(303)
404-1800
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Not
applicable
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(Former
name or former address, if changed since last report)
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Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any
of the following provisions:
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[
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Written communications pursuant to Rule 425 under the Securities
Act
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[
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Soliciting materials pursuant to Rule 14a-12 under the Exchange
Act
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[
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
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[
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
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Item
5.02. Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On
April
3, 2007, Vail Resorts, Inc. (the “Company”) announced that Roger D. McCarthy,
the Co-President of the Mountain Division (Breckenridge and Keystone) and Chief
Operating Officer for Breckenridge, tendered his resignation from all positions
he holds with the Company and its subsidiaries, effective May 4, 2007. Mr.
McCarthy tendered his resignation on March 30, 2007.
Mr.
McCarthy announced that he will be joining the Russian private investment
company, Interros, to develop a new ski resort, Rosa Khutor, which will be
located near the city of Sochi in southwestern Russia.
Item
9.01.
Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed herewith:
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Exhibit
No.
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Description
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99.1
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Press
Release, dated April 3, 2007.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Dated:
April 3, 2007
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Vail
Resorts, Inc.
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By:
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/s/
Jeffrey W. Jones
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Jeffrey
W. Jones
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Senior
Executive Vice President and Chief Financial
Officer
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Exhibit
Index
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Exhibit
No.
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Description
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99.1
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Press
Release, dated April 3, 2007.
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VAIL
RESORTS
NEWS
RELEASE
FOR
IMMEDIATE RELEASE
Investor
Relations:
Jeff
Jones, CFO, (303) 404-1802, jwjones@vailresorts.com
Media
Contacts:
Kelly
Ladyga, (303) 404-1862, kladyga@vailresorts.com
Nicky
DeFord, (970) 453-3210, ndeford@vailresorts.com
VAIL
RESORTS’ ROGER MCCARTHY LEAVING COMPANY TO START A NEW SKI RESORT IN RUSSIA
BROOMFIELD,
Colo.-April 3, 2007-Vail Resorts, Inc. (NYSE:MTN) announced today that Roger
McCarthy, Chief Operating Officer of its Breckenridge mountain resort and
co-president of the Company’s mountain division, has tendered his resignation
effective May 4, 2007. McCarthy announced that he will be joining the Russian
private investment company, Interros, to develop a new ski resort, Rosa Khutor.
The ski resort will be located near the city of Sochi in southwestern Russia
and
the city is one of three finalists bidding on the 2014 Winter Olympic Games.
“Roger
has played an integral leadership role in the success of Breckenridge and
Keystone resorts over the past seven years. During his tenure with Vail Resorts,
he helped to forge a partnership with the Town of Breckenridge on the landmark
agreement to install the BreckConnect Gondola and develop Peaks 7 and 8.
He
oversaw the completion of major capital improvements at both resorts including
North America’s highest chairlift, the Imperial Express, the BreckConnect
Gondola linking the town and mountain at Breckenridge and the addition of
165
acres of Peak 7 intermediate terrain; as well as the addition of the A51
terrain
park and the new snowcat-accessed terrain in Bergman, Erickson and Independence
bowls at Keystone. Roger raised the bar on guest service levels at Breckenridge
and Keystone, resulting in a significant increase in the annual SKI
Magazine
rankings for both resorts,” said Rob Katz, chief executive officer of Vail
Resorts. Katz continued, “Roger will be missed by all of us and we wish him
nothing but success with this new exciting opportunity. He does leave both
Breckenridge and Keystone perfectly positioned to continue their momentum
of
financial success and delivering an outstanding guest experience, and leaves
behind a very talented management team ready to take both resorts to the
next
level.”
-more-
McCarthy
joined Vail Resorts in February 2000 as chief operating officer of Breckenridge
Resort.
“Being
a
part of the success of Breckenridge and Keystone for the past seven years
has
been the highlight of my 30-plus-year career in the mountain resort business.
I’m so proud of all that we have accomplished at both resorts,
but especially the partnership between the Town of Breckenridge and the mountain
in achieving a common vision for the resort’s future. It has been a privilege to
work with two extraordinary teams of people at Breckenridge and Keystone
and an
honor to be a part of the premier mountain resort company in North
America. It’s
a
bittersweet decision, but I have been offered the rare opportunity to be
involved in leading the development of an entirely new resort from the ground
up,” said McCarthy.
The
Company announced that it intends to begin a search for a new chief operating
officer of Breckenridge immediately, including a review of both internal
and
external candidates. Current co-president of the mountain division, Bill
Jensen,
will become president of the mountain division, effective immediately, and
will
assume management responsibilities for Breckenridge Resort until a new chief
operating officer is appointed. Jensen will also remain as chief operating
officer of Vail Mountain.
About
Vail Resorts
Vail
Resorts, Inc. is the leading mountain resort operator in the United States.
The
Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek,
Breckenridge and Keystone in Colorado, Heavenly in California and Nevada,
and
the Grand Teton Lodge Company in Jackson Hole, Wyo. The Company's subsidiary,
RockResorts, a luxury resort hotel company, manages casually elegant properties
across the United States. Vail Resorts Development Company is the real estate
planning, development and construction subsidiary of Vail Resorts, Inc. Vail
Resorts is a publicly held company traded on the New York Stock Exchange
(NYSE:
MTN). The Vail Resorts company website is www.vailresorts.com and consumer
website is www.snow.com.
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