Alpine-Chic Hotel Blends Mountain High Energy with Swank Sophistication

Beaver Creek, CO – December 19, 2008 – Vail Resorts, Inc. (NYSE: MTN) today announced the expansion of its RockResorts lodging division with tomorrow’s grand opening of The Osprey at Beaver Creek, A RockResort. Following a $7 million dollar transformation, The Osprey at Beaver Creek, formerly known as The Inn at Beaver Creek, is the closest ski-in/ski-out hotel to a chairlift in North America.

The Osprey features 45 luxurious guest rooms, sophisticated alpine-chic design, a trendy bar with a tapas-style menu, and cutting edge services and amenities. The boutique hotel is centrally located in Beaver Creek Resort, which was rated the #6 best ski resort in North America by Ski Magazine this year as “truly one of America’s finest skiing experiences.”

“Vail Resorts is committed to providing exceptional experiences in iconic locations,” said Rob Katz, chief executive officer of Vail Resorts. “The Osprey exemplifies the RockResorts brand with distinct services and luxury amenities that capture the essence of its Rocky Mountain setting.”

The Osprey’s guest rooms feature elegant furnishings, the finest linens, and lavish touches such as plush robes, flat-screen TVs with DVD players, MP3 player docking stations, customized pre-stocked refreshment centers and wireless Internet. The hotel was designed to ignite all the senses with an atmosphere of “play” and energy including a giant social room featuring classic movies on flat-screen TVs, and such amenities as a Wii entertainment system, and helmet cams that can be rented to film on-the-slopes adventures. The Osprey offers a fitness facility, outdoor heated pool, steam room and sauna. A perfect après ski scene, the pool deck offers an outdoor lounge seating, fire pit and full bar service.

“The Osprey is an exciting addition to the RockResorts portfolio with its coveted slopeside locale,” said Stan Brown, president of RockResorts and Vail Resorts Hospitality. “The hotel’s combination of elegance and edginess is the perfect addition to Beaver Creek, as it will exceed expectations of travelers seeking refined indulgence while also enticing a new jetsetter clientele.”

The Osprey’s trendy bar is on track to become Beaver Creek’s hottest après ski scene, offering custom cocktails, mixology lessons, and a tapas-style menu with memorable treats such as lobster nachos, grilled brie sandwiches or a stack of hand-dipped onion rings with spicy chipotle mayo. The menu is overseen by Executive Chef Michael Wilganowski, an 11-year culinary industry veteran. The bar’s refined and creative wine list includes a number of organic varieties.

The ultimate setting for winter outdoor enthusiasts, skiers stepping off the hotel’s back deck will be treated to a high-speed quad lift just 20 feet away. Guests can bring their own ski and snowboarding equipment, have it shipped ahead of the visit or arrange for custom rental gear to be delivered. Ski valets will store and prepare the gear so all equipment is ready and waiting slopeside when guests are ready to hit the powder.

Dallas, Texas-based architect and design firm Looney & Associates oversaw the hotel transformation, which incorporates warm colors and richly textured surfaces such as leather, birch, iron, and onyx made from locally sourced stone, indigenous metals and Forest Stewardship Council (FSC)-certified wood.

Beaver Creek Resort sets the standard for luxury family skiing, consistently scoring high marks for its commitment to service, slope grooming, dining and lodging. For more information about The Osprey at Beaver Creek, please visit WWW.ROCKRESORTS.COM or call 866-621-ROCK (7625).

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About RockResorts
RockResorts, a wholly owned subsidiary of Vail Resorts, owns and operates luxury resort hotels that offer casually elegant accommodations, lavish RockResorts Spas™, renowned golf courses, award-winning dining and a variety of exciting outdoor adventures. The RockResorts collection includes The Arrabelle at Vail Square and The Lodge at Vail in Vail, Colo.; Hotel Jerome in Aspen, Colo.; The Osprey at Beaver Creek and The Pines Lodge in Beaver Creek, Colo.; Keystone Lodge & Spa in Keystone, Colo.; La Posada de Santa Fe Resort & Spa in Santa Fe, N.M.; Snake River Lodge & Spa in Jackson Hole, Wyo.; and The Landings St. Lucia, Rodney Bay, St. Lucia.  Future RockResorts include: Tempo Miami in Miami, Fla. (scheduled to open in spring 2009); One Ski Hill Place in Breckenridge, Colo. (scheduled to open in winter 2009/2010); The Mansfield Inn at Stowe in Stowe, Vt. (scheduled to open in winter 2010/2011); Rum Cay Resort Marina, The Bahamas (scheduled to open in 2011); and the Third Turtle Club & Spa, Turks and Caicos (scheduled to open in 2011).

About Vail Resorts Hospitality
Vail Resorts Hospitality is comprised of the RockResorts collection of luxury hotels, Grand Teton Lodging Company in Jackson Hole, Wyo., and a number of owned or managed independently-flagged hotels including the Vail Mountain Marriott Resort & Spa in Vail, Colo.; Austria Haus Hotel in Vail, Colo.; The Great Divide Lodge in Breckenridge, Colo.; Breckenridge Mountain Lodge in Breckenridge, Colo.; Village Hotel in Breckenridge, Colo.; The Inn at Keystone in Keystone, Colo.; and Ski Tip Lodge in Keystone, Colo.  Vail Resorts Hospitality also manages approximately 2,000 condominium properties across the country with a concentration in the base villages of Vail Resorts’ five mountain resorts.