-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 R89SozWe/cexFiDelsnfD58Ghj5za4NB28wHjQChJ27m18SSgkxiSL9Nan8TVvcM
 nL+JbEYf82SxWG6/ls14og==

<SEC-DOCUMENT>0001181431-08-036202.txt : 20080603
<SEC-HEADER>0001181431-08-036202.hdr.sgml : 20080603
<ACCEPTANCE-DATETIME>20080603140003
ACCESSION NUMBER:		0001181431-08-036202
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080531
FILED AS OF DATE:		20080603
DATE AS OF CHANGE:		20080603

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:			Fernandez Keith
		CENTRAL INDEX KEY:			0001364546

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09614
		FILM NUMBER:		08876942

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(970) 845-2500

	MAIL ADDRESS:	
		STREET 1:		C/O VAIL RESORTS, INC.
		STREET 2:		137 BENCHMARK ROAD
		CITY:			AVON
		STATE:			CO
		ZIP:			81620
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd208948.xml
<DESCRIPTION>VESTING OF SECOND TRANCHE OF 5/31/06 RSU GRANT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-05-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001364546</rptOwnerCik>
            <rptOwnerName>Fernandez Keith</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 &amp; COO, VRDC</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2338</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5978</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>727</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>49.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5251</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2338</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-05-31</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-05-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2338</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2339</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On May 31, 2006 Reporting Person was granted 7016 Restricted Share Units which vest in three equal annual installments commencing on the first anniversary of the grant date.</footnote>
        <footnote id="F2">727 shares of common stock were withheld from the issuance of common stock to Reporting Person upon vesting of Restricted Share Units in order to satisfy the Reporting Person's obligations for payment of withholding and other taxes due in connection therewith.</footnote>
        <footnote id="F3">Each Restricted Share Unit represents a contingent right to receive one share of common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Keith Fernandez</signatureName>
        <signatureDate>2008-06-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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