Vail Resorts, Inc. is one of the leading resort operators in North America. The Company owns and operates four ski resorts in Colorado, one ski resort in Lake Tahoe, California/Nevada, and one summer resort in Grand Teton, Wyoming. In addition in fiscal 2002, the Company acquired a majority interest in Rock Resorts, which manages 10 luxury resort hotels across the United States. The Company's resorts and resort hotels provide a comprehensive resort experience throughout the year to a diverse clientele with an attractive demographic profile.

Vail, Beaver Creek, Breckenridge, and Keystone and all located within Colorado, are year-round mountain resorts offering a full complement of on-snow and off-snow activities.

When it comes to winter destinations - from fantastic skiing and riding, to cultural activities, great shopping, exciting nightlife and one-of-a-kind restaurants - Aspen/Snowmass offers the complete vacation experience. It's not just one mountain. It's Snowmass, Aspen Mountain, Aspen Highlands, and Buttermilk. Decide which mountain fits your passion. Four choices and nearly 5,000 acres. Aspen/Snowmass: Experience the Power of Four.

PLAY AT HEAVEN'S DOORSTEP...

"Awesome" will take on a new meaning for you in Telluride! With 13,000 and 14,000-foot peaks surrounding you, there are spectacular views wherever you go. All you have to do is step out the door and you're in a backyard of adventure with mountains of fun to explore. With 1,700 acres of lift-served skiing, Telluride is a skier's paradise. However, don't forget Nordic skiing, back country and Colorado's only heli-skiing that you can find...only in Telluride! You will find that our diverse terrain, sunny days and fresh powder make skiing here truly magical.