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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 OIewKKuqxB5AmJDIbnhNYeeBJo/JDMbAxt3xgcwg8ttbaEgsGqQPGUe6/1KITNuL
 QC6P0MarUfhk0CA6iN5TqQ==

<SEC-DOCUMENT>0001181431-07-059032.txt : 20070927
<SEC-HEADER>0001181431-07-059032.hdr.sgml : 20070927
<ACCEPTANCE-DATETIME>20070927131057
ACCESSION NUMBER:		0001181431-07-059032
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070925
FILED AS OF DATE:		20070927
DATE AS OF CHANGE:		20070927

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAIL RESORTS INC
		CENTRAL INDEX KEY:			0000812011
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				510291762
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	BUSINESS ADDRESS:	
		STREET 1:		390 INTERLOCKEN CRESCENT
		STREET 2:		SUITE 1000
		CITY:			BROOMFIELD
		STATE:			CO
		ZIP:			80021
		BUSINESS PHONE:		303-404-1800

	MAIL ADDRESS:	
		STREET 1:		390 INTERLOCKEN CRESCENT
		STREET 2:		SUITE 1000
		CITY:			BROOMFIELD
		STATE:			CO
		ZIP:			80021

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JENSEN WILLIAM
		CENTRAL INDEX KEY:			0001049254
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09614
		FILM NUMBER:		071138699

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9708452490

	MAIL ADDRESS:	
		STREET 1:		VAIL RESORTS INC
		STREET 2:		PO BOX 7
		CITY:			VAIL
		STATE:			CO
		ZIP:			81658

	FORMER NAME:	
		FORMER CONFORMED NAME:	JANSEN WILLIAM
		DATE OF NAME CHANGE:	19971107
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd173212.xml
<DESCRIPTION>09/25/07 GRANTS
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-09-25</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000812011</issuerCik>
        <issuerName>VAIL RESORTS INC</issuerName>
        <issuerTradingSymbol>MTN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001049254</rptOwnerCik>
            <rptOwnerName>JENSEN WILLIAM</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VAIL RESORTS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>390 INTERLOCKEN CRESCENT, STE. 1000</rptOwnerStreet2>
            <rptOwnerCity>BROOMFIELD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80021</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President, Mtn Div-COO Vail</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-09-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1538</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-25</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-09-25</value>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1538</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1538</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Share Appreciation Right</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>60.05</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-09-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14497</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>60.05</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-09-25</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-09-25</value>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14497</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14497</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each Restricted Share Unit represents a contingent right to receive one share of common stock.</footnote>
        <footnote id="F2">On September 25, 2007 Reporting Person was granted 1,538 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary date of the grant date.</footnote>
        <footnote id="F3">Each Share Appreciation Right (each, an &quot;SAR&quot;) represents a contingent right to receive, upon vesting, an amount of shares of Issuer's common stock equal to the positive difference (if any) between the fair market value of Issuer's common stock on the exercise date and the SAR exercise price, divided by the fair market value of Issuer's common stock on the exercise date.</footnote>
        <footnote id="F4">On September 25, 2007 Reporting Person was granted 14,497 SAR's which vest in three equal annual installments commencing on the first anniversary date of the grant date and expire 10 years from the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Fiona Arnold by POA</signatureName>
        <signatureDate>2007-09-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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