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OMB
APPROVAL
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OMB Number
3235-0104
Expires:
April 30, 1997
Estimated average
burden
hours per
response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934,
Section 17(a) of the Public Utility Holding Company Act of
1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Rowan Marc J.
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(Last) (First) (Middle)
1301 Avenue of the Americas
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(Street)
New York, NY 10019
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
2/3/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Vail Resorts, Inc. ("MTN")
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other
(specify below)
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6. If Amendment, Date of Original (Month/Year)
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Table I -- Non-Derivative Securities Beneficially
Owned
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<TABLE>
<CAPTION>
3.
Ownership Form:
2. Amount of Securities
Direct (D) or
1. Title of Security Beneficially Owned
Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4)
(Instr. 5) (Instr.5)
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<S> <C>
<C> <C>
Common Stock 0
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Class A Common Stock 0
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</TABLE>
Reminder: Report on a separate line for each class of securities
beneficially
owned directly or indirectly.
(Print or Type Responses)
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and
Amount of Securities ship
Underlying
Derivative Security Form of
2. Date Exercisable (Instr. 4)
Derivative
and Expiration Date
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(Month/Day/Year)
Amount sion or Direct 7. Nature
of
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or Exercise (D) or
Indirect
Date Expira-
Number Price of Indirect
Beneficial
1. Title of Security Exer- tion
of Derivative (I)
Ownership
(Instr. 4) cisable Date Title
Shares Security (Instr.5) (Instr.
5)
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<S> <C> <C> <C>
<C> <C> <C> <C>
Option to Purchase Common Stock
0
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Option to Purchase Class A Common
Stock 0
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</TABLE>
Explanation of Responses:
Apollo Ski Partners, L.P., a Delaware limited
partnership
("Apollo Ski") owns directly 11,639,542 shares of
Class A common
stock of Vail Resorts, Inc. (the "Company"). The
general partner
of Apollo Ski is Apollo Investment Fund, L.P., a
Delaware limited
partnership (the "Fund") whose managing general
partner is Apollo
Advisors, L.P., a Delaware limited partnership
("Advisors"),
whose general partner is Apollo Capital
Management, Inc. The
Reporting Person is a principal of Advisors. As
permitted by the
SEC rules, the number of shares reported
includes shares in
excess of the proportionate pecuniary interest,
if any, of the
Reporting Person in the equity securities of the
Company.
The filing of this Statement shall not be deemed
an admission
that the Reporting Person, for the purposes of
Section 16 of the
Securities Exchange Act of 1934, as amended, is
a beneficial
owner of or has any pecuniary interest in, any
equity security
covered by this Statement.
/s/ Marc J. Rowan
2/5/97
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**Signature of Reporting Person
Date
** Intentional misstatements or omissions of facts constitute
Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be
manually signed.
If space provided is insufficient. See Instruction 6 for
procedure.
