Exhibit 99.1

FOR IMMEDIATE RELEASE

Vail Resorts Contacts:

Investor Relations: Hayley Wolff, (303) 404-1827, hwolff@vailresorts.com

Media: Kelly Ladyga, (303) 404-1862, kladyga@vailresorts.com

Vail Resorts Reports Fiscal 2011 Fourth Quarter and Full Year Results, Provides 2012 Outlook and Declares Regular Quarterly Dividend

BROOMFIELD, Colo. – September 22, 2011 - Vail Resorts, Inc. (NYSE: MTN) today reported results for the fourth quarter and fiscal year ended July 31, 2011, provided its outlook for the fiscal year ending July 31, 2012 and announced the declaration of its regular quarterly dividend.

Highlights

 

   

Resort Reported EBITDA (which includes the Company’s Mountain and Lodging segments) of $221.9 million for Fiscal 2011 improved by $35.5 million, or 19.0%, compared with the same period in the prior year reflecting solid growth across our resorts as well as the addition of Northstar-at-Tahoe, which was acquired in October 2010.

 

   

Net income attributable to Vail Resorts, Inc. of $34.5 million for Fiscal 2011 increased by $4.1 million, or 13.5%, from the prior fiscal year. Excluding a $7.4 million charge ($4.6 million after-tax) for extinguishment of debt related to the Company’s successful bond refinancing, net income increased $8.7 million, or 28.6%, over the comparable prior year period.

 

   

Vail Resorts, Inc. declares its regular quarterly dividend of $0.15 per share of common stock.

 

   

Sales of season passes for the 2011/2012 season were up 9% in sales dollars and 1% in units as of September 20, 2011 compared to the comparable period in 2010, adjusted as if Northstar-at-Tahoe were owned in both periods.

Commenting on the Company’s Fiscal 2011 results, Rob Katz, Chief Executive Officer said, “I am very pleased with the performance that we delivered for Fiscal 2011, including our fourth quarter results. While our loss in the fourth quarter was actually greater than the prior year, due to the inclusion of Northstar-at-Tahoe’s seasonal losses, we saw revenue growth in all of our primary business areas, which continued through August, the first month of Fiscal 2012. This was a very successful year for us on many fronts. Despite the continued challenges in the overall economy, we reported strong revenue and EBITDA growth in both our Mountain and Lodging Divisions, successfully acquired and integrated Northstar-at-Tahoe, achieved record guest satisfaction scores, generated significant real estate revenue and cash proceeds, favorably refinanced our Senior Subordinated Notes and initiated our first regular quarterly cash dividend.”


The following information was filed by Vail Resorts Inc (MTN) on Thursday, September 22, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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