Vail Resorts to Acquire Two Ski Areas in Midwest, Afton Alps in Minnesota and Mount Brighton in Michigan

Vail Resorts to Acquire Two Ski Areas in Midwest, Afton Alps in Minnesota and
                          Mount Brighton in Michigan

Acquisitions Join Guests of Premier Urban Midwest Ski Areas with Vail Resorts'
Seven World-Class Mountain Resorts

PR Newswire

BROOMFIELD, Colo., Dec. 6, 2012

BROOMFIELD, Colo., Dec. 6, 2012 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN)
announced today that it has entered into agreements to purchase two premier
urban ski areas in the Midwest, Afton Alps in Minnesota and Mount Brighton in
Michigan, for total cash consideration of $20 million. Both ski areas serve
major snow sports markets in the Midwest with more than 468,000 active skiers
and snowboarders in the nearby Minneapolis-St. Paul and Detroit metropolitan
areas. Vail Resorts plans to upgrade and enhance the experience at each resort
and create opportunities to connect guests from each of these ski areas to its
seven world-class resorts in Colorado and Lake Tahoe through season pass and
other lift ticket products.

"We are thrilled to welcome Afton Alps and Mount Brighton to the Vail Resorts
family. These acquisitions are part of a new strategy for Vail Resorts to
drive season pass sales and build broader guest loyalty by looking at premier
smaller ski areas located near major urban markets. We plan to bring
state-of-the-art racing, terrain parks, coaching and technology to the guest
experience. We also will connect these urban ski areas to our world-class
resorts in Colorado, California and Nevada with new season pass offerings,
providing the chance to experience the best skiing and riding locally and in
the West," said Rob Katz, chairman and chief executive officer of Vail
Resorts.

"Afton Alps' great terrain and strong heritage built by the Augustine family
make it an ideal ski area for our entry into the Minneapolis-St. Paul market.
Similarly, Mount Brighton is a great area for beginners and advanced skiers
alike in the Detroit, Lansing and Ann Arbor markets with a strong snow sports
tradition built over decades by the Tippett and Bruhn families. We plan to
honor the important legacy of each ski area for their loyal guests while
investing to enhance the experience in the years to come." Katz added.

Vail Resorts plans to enhance both the on-mountain and base area experience at
each ski area. These enhancements will include redesigned and updated terrain
parks, best-in-class coaching and instruction for all levels of skiers and
riders, dedicated racing programs, expanded dining and entertainment options
at the base area, and integrated technology and social media programs like
EpicMix, EpicMix Photo and EpicMix Racing. The Company also will invest in
each ski area's infrastructure to improve snowmaking, parking and access to
provide a more consistent experience throughout the season. Finally, the
Company will be reviewing opportunities to add new summer activities. The
Company will be outlining its plans in the coming months and meeting with the
local communities to seek their input.

Nearing its 50^th anniversary, Afton Alps is the largest ski area near a major
city in the Midwest with 48 trails on nearly 300 acres, 18 lifts, four base
areas, night skiing and riding, tubing and an 18-hole golf course. Afton Alps
is located 33 miles from more than two million people and more than 161,000
skiers and snowboarders in the Minneapolis-St. Paul metropolitan area.

Open since 1960, Mount Brighton features 26 trails on 130 acres, six lifts,
night skiing and riding and an 18-hole golf course. The ski area is located 43
miles from Detroit and is within reach of more than four million people and
more than 307,000 skiers and snowboarders in the Detroit, Lansing and Ann
Arbor metropolitan areas.

Vail Resorts is planning season pass products for both Afton Alps and Mount
Brighton in time for the 2013-2014 season pass sales period, beginning in
March 2013. In the meantime, to welcome both ski areas into the Vail Resorts
family, Afton Alps and Mount Brighton season pass holders will immediately
receive a 25-percent discount off of the window rate on lift tickets at Vail,
Beaver Creek, Breckenridge, Keystone, Heavenly, Northstar and Kirkwood this
season.

For more information, visit http://www.aftonalpsisepic.com and
http://www.mtbrightonisepic.com.

The Company expects to complete the purchase of both urban ski areas within
the next month; closing is subject to certain conditions.

About Vail Resorts
Vail Resorts, Inc., through its subsidiaries, 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, and
Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and
Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The
Company's subsidiary, RockResorts, a luxury resort hotel company, manages
casually elegant properties. 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.



SOURCE Vail Resorts

Website: http://www.vailresorts.com
Contact: Investor Relations: Michael Chao, (303) 404-1820,
mchao@vailresorts.com Media Relations: Kelly Ladyga, (303) 404-1862,
kladyga@vailresorts.com