RockResorts and Tempo Miami Agree to Terminate Management Agreement
BROOMFIELD, CO - September 8, 2011 - Vail Resorts, Inc. (NYSE: MTN) announced today that as of September 15 its subsidiary RockResorts will no longer manage Tempo Miami as part of its luxury hotel brand.
Ownership and RockResorts have mutually agreed that ownership's direction for the Tempo Miami hotel does not fit with the RockResort brand or its direction, and therefore the parties have agreed to amicably terminate their relationship.
About RockResorts
RockResorts®, a wholly owned subsidiary of Vail Resorts, owns and operates luxury resorts 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.; The Osprey at Beaver Creek and The Pines Lodge in Beaver Creek, Colo.; One Ski Hill Place in Breckenridge, Colo.; Hotel Jerome in Aspen, Colo.; Snake River Lodge & Spa™ in Jackson Hole, Wyo.; La Posada de Santa Fe Resort & Spa in Santa Fe, N.M.; Half Moon in Rose Hall, Jamaica; The Landings St. Lucia in Rodney Bay, St. Lucia; and Balcones del Atlántico in Las Terrenas, Dominican Republic. Future RockResorts will include Alma del Pacifico Hotel in Costa Rica; Bimini Bay Resort & Marina in The Bahamas; Rum Cay Resort Marina in The Bahamas; Third Turtle Club & Spa in Turks and Caicos; and The Mansfield Inn at Stowe in Stowe, Vt. www.rockresorts.com
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 resort properties of Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, and the Heavenly Ski Resort and Northstar-at-Tahoe Resort 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 property and hotel company, manages casually elegant properties across the United States and in the Caribbean. 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.
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