Exhibit 21

SUBSIDIARIES 1

OF

VAIL RESORTS, INC.

NAME	STATE OF INCORPORATION/ FORMATION	DOING BUSINESS AS
1016563 B.C. Ltd.	British Columbia
1089881 B.C. Ltd.	British Columbia
17402 HIDDEN VALLEY, LLC	Missouri
2006 CIMARRON, LLC	Colorado
AFFINITY SNOWSPORTS INC.	British Columbia
ALL MEDIA ASSOCIATES, INC.	California
ALL MEDIA HOLDINGS, INC.	Colorado
AQUIA PTY LTD	Australia
ARRABELLE AT VAIL SQUARE, LLC	Colorado
AUSTRALIAN ALPINE ENTERPRISES PTY LTD	Australia
AUSTRALIAN ALPINE RESERVATION CENTRES PTY LTD	Australia
AVON PARTNERS II LIMITED LIABILITY COMPANY	Colorado
BBJFLQ, INC.	Pennsylvania
BCRP, INC.	Delaware
BEAVER CREEK ASSOCIATES, INC.	Colorado	BEANO AT BEAVER CREEK HAY MEADOW AT BEAVER CREEK LATIGO AT BEAVER CREEK MCCOY PARK AT BEAVER CREEK RED TAIL AT BEAVER CREEK SPRUCE SADDLE RESTAURANT STRAWBERRY PARK AT BEAVER CREEK
BEAVER CREEK CONSULTANTS, INC.	Colorado
BEAVER CREEK FOOD SERVICES, INC.	Colorado	BACHELOR GULCH CLUB BEANO’S CABIN BEAVER CREPES AND COOKIES CANDY CABIN GUNDER’S TALONS
BLACK DIAMOND INSURANCE, INC.	Arizona
BLACKCOMB MOUNTAIN DEVELOPMENT LTD.	British Columbia
BLACKCOMB SKIING ENTERPRISES LIMITED PARTNERSHIP	British Columbia
BLACKCOMB SKIING ENTERPRISES LTD.	British Columbia
BLC OPERATORS, INC.	Pennsylvania
BOOTH CREEK SKI HOLDINGS, INC.	Delaware

BOSTON MILLS SKI RESORT, INC.	Ohio	BOSTON MILLS SKI RESORT
BOULDER VIEW TAVERN, INC.	Pennsylvania
BRANDYWINE SKI RESORT, INC.	Ohio
BRECKENRIDGE RESORT PROPERTIES, INC.	Colorado	BRECKENRIDGE RESORT PROPERTIES VAIL RESORTS PROPERTY MANAGEMENT
BRECKENRIDGE TERRACE, LLC	Colorado
CARINTHIA GROUP 1, LP	Vermont
CARINTHIA GROUP 2, LP	Vermont
CARINTHIA RESIDENTIAL PHASE 1, LP	Vermont
CARINTHIA SKI LODGE LLC	Vermont
CB COMMERCIAL PROPERTIES, LLC	Colorado
COLORADO MOUNTAIN EXPRESS, INC.	Colorado	CME CMECOUPONS CMECOUPONS.COM CME DESTINATIONS WEST CME PARTNERS CME PREMIER COLORADO MOUNTAIN EXPRESS DESTINATIONS WEST EPIC MOUNTAIN EXPRESS PREMIER VIP TRANSPORTATION RESORT EXPRESS ROCKY MOUNTAIN ART GUIDE ROCKY MOUNTAIN DINING GUIDE SKIER'S CONNECTION TRANSPORTATION MANAGEMENT SYSTEMS WHEELS OF FORTUNE
COLTER BAY CONVENIENCE STORE, LLC	Wyoming
COLTER BAY GENERAL STORE, LLC	Wyoming

CRESTED BUTTE, LLC	Colorado	CBMR PROPERTIES CBMR SKI AND RIDE SCHOOL CRESTED BUTTE RESORT CRESTED BUTTE MOUNTAIN RESORT CRESTED BUTTE SKI AREA CRESTED BUTTE SKI RENTAL CRESTED BUTTE VACATIONS GENERAL STORE – CBMR HALL OF FAME BAR & GRILL ICE BAR KIDS WORLD – CBMR OUTPOST CBMR PARADISE RESORT COMMUNICATIONS RUSTICA CBMR TRACKERS – CBMR WOODSTONE GRILLE CAMP CB CB CONFERENCE SERVICES CBMR LIFT TICKETS GRAND LODGE HOTEL GRAND LODGE RETAIL JEFE’S RESTAURANT LODGE AT MOUNTAINEER SQUARE LOGO’D AT CB TEN PEAKS RESTAURANT THIN AIR SPORTS TREASURY CENTER RENTALS WHITE ROOM CB MOUNTAIN SCHOOL ULEY’S CABIN MOUNTAIN ADVENTURES CBMR WHOLESALE DEPARTMENT CRESTED BUTTE WHOLESALE CRESTED BUTTE TRAVEL COAL BREAKERS – CRESTED BUTTE MOUNTAIN RESORT ELEVATION RETAIL ATMOSPHERE BUTTE 66 BUTTE 66 BBQ ROADHOUSE
CROTCHED MOUNTAIN PROPERTIES, LLC	New Hampshire
CRYSTAL PEAK LODGE OF BRECKENRIDGE, INC.	Colorado	CRYSTAL PEAK LODGE
DELTRECS, INC.	Ohio

DTPC, LLC	Delaware
EPICSKI, INC.	Montana
EVER VAIL, LLC	Colorado
FIRST CHAIR HOUSING TRUSTEE LLC	Colorado
FLAGG RANCH COMPANY	Colorado
FROSTY LAND, INC.	New York
FOREST RIDGE HOLDINGS, INC.	Colorado
GARIBALDI LIFTS LTD.	British Columbia
GILLETT BROADCASTING, INC.	Delaware
GORE CREEK PLACE, LLC	Colorado
GRAND TETON LODGE COMPANY	Wyoming
GREAT NORTH REGIONAL CENTER, LLC	Vermont
GREATER PARK CITY COMPANY	Utah	GREATER PARK CITY CORPORATION PARK CITY MOUNTAIN RESORT
GREATER PROPERTIES, INC.	Delaware
GROS VENTRE UTILITY COMPANY	Wyoming
HEAVENLY VALLEY, LIMITED PARTNERSHIP	Nevada	BUB'S PUB EXPEDITION KIRKWOOD HEAVENLY MOUNTAIN RESORT KIRKWOOD KIRKWOOD CENTRAL RESERVATIONS KIRKWOOD GENERAL STORE KIRKWOOD INN KIRKWOOD MOUNTAIN OUTFITTERS KIRKWOOD MOUNTAIN RESORT KIRKWOOD RESORT KIRKWOOD SERVICE CENTER KIRKWOOD SKI AND SUMMER RESORT KIRKWOOD SKI RESORT MONTE WOLFS MOUNTAIN KITCHEN OFF THE WALL BAR AND GRILL TIMBER CREEK
HIDDEN VALLEY GOLF AND SKI, INC.	Missouri	HIDDEN VALLEY SKI AREA
HPK, LLC	Delaware
HUNKIDORI LAND COMPANY, LLC	Colorado
HUNTER MOUNTAIN ACQUISITION, INC.	Missouri
HUNTER MOUNTAIN BASE LODGE, INC.	New York
HUNTER MOUNTAIN FESTIVALS, LTD.	New York
HUNTER MOUNTAIN RENTALS, LTD.	New York
HUNTER MOUNTAIN SKI BOWL, INC.	New York
HUNTER RESORT VACATIONS, INC.	New York
HVLP KIRKWOOD SERVICES, LLC	California

JACKSON HOLE GOLF AND TENNIS CLUB, INC.	Wyoming
JACKSON LAKE LODGE CORPORATION	Wyoming
JENNY LAKE LODGE, INC.	Wyoming
JENNY LAKE STORE, LLC	Wyoming
JFBB LQ, INC.	Pennsylvania
JFBB SKI AREAS, INC.	Missouri
JHL&S LLC	Wyoming
KEYSTONE CONFERENCE SERVICES, INC.	Colorado
KEYSTONE DEVELOPMENT SALES, INC.	Colorado
KEYSTONE FOOD AND BEVERAGE COMPANY	Colorado	9280' ALPENTOP DELI DERCUM SQUARE ICE RINK KEYSTONE CORPORATE CENTER CORPORATION KEYSTONE LODGE & SPA MINER’S CART ONE SKI HILL PLACE PIONEER CROSSING SNOW DRIFTER THE CROW'S NEST THE OVERLOOK
KEYSTONE RESORT PROPERTY MANAGEMENT COMPANY	Colorado	KEYSTONE CENTRAL RESERVATIONS KEYSTONE MOUNTAIN RESERVATIONS KEYSTONE PROPERTY MANAGEMENT
KEYSTONE/INTRAWEST, LLC	Delaware	KEYSTONE REAL ESTATE DEVELOPMENTS
KEYSTONE/INTRAWEST REAL ESTATE, LLC	Colorado
LA POSADA BEVERAGE SERVICE, LLC	Delaware
LAKE TAHOE LODGING COMPANY	Colorado	ACCOMMODATION STATION TAHOE LODGING ZALANTA
LARKSPUR RESTAURANT & BAR, LLC	Colorado
LBO HOLDING, INC.	Maine
LODGE PROPERTIES, INC.	Colorado	THE LODGE AT VAIL
LODGE REALTY, INC.	Colorado
MAD RIVER MOUNTAIN, INC.	Missouri
MHSC DP PTY LTD	Australia
MHSC HOTELS PTY LTD	Australia
MHSC PROPERTIES PTY LTD	Australia
MHSC TRANSPORTATION SERVICES PTY LTD	Australia
MOUNT HOTHAM MANAGEMENT AND RESERVATION PTY LTD	Australia
MOUNT HOTHAM SKIING COMPANY PTY LTD	Australia
MOUNTAIN THUNDER, INC.	Colorado

MT CB REAL ESTATE, LLC	Colorado
NATIONAL PARK HOSPITALITY COMPANY	Colorado
NORTHSTAR GROUP COMMERCIAL PROPERTIES, LLC	Delaware
NORTHSTAR GROUP RESTAURANT PROPERTIES, LLC	Delaware
OKEMO LIMITED LIABILITY COMPANY	Colorado	CAMP GOKEMO JACKSON COUNTRY CLUB AT OKEMO MOUNTAIN RESORT JACKSON GORE JACKSON GORE AT OKEMO JACKSON GORE COUNTRY CLUB NEW ENGLAND’S SKI RESORT OKEMO HEALTH CENTER OKEMO MOUNTAIN LODGE OKEMO MOUNTAIN LODGING BUREAU OKEMO MOUNTAIN LODGING SERVICE OKEMO MOUNTAIN RENTAL SHOP OKEMO MOUNTAIN RESERVATION SERVICE OKEMO MOUNTAIN RESORT OKEMO MOUNTAIN RESORT PROPERTIES OKEMO MOUNTAIN SKI RENTAL AND REPAIR SHOP OKEMO RENTAL SERVICE OKEMO SKI AND RIDE SCHOOL OKEMO SPA OKEMO SPORTS CENTER OKEMO VALLEY GOLF ACADEMY OKEMO VALLEY GOLF CLUB OKEMO VALLEY GOLF COURSE OKEMO VALLEY NORDIC CENTER SNOW STARS SNOW TRACKS LEARNING CENTER SOLITUDE VILLAGE SPORTS CENTER THE GOLF ACADEMY AT OKEMO THE ICE HOUSE THE MEETING HOUSE THE OKEMO VALLEY GOLF SCHOOL THE SPA AT OKEMO THE SPORTS CENTER AT OKEMO THE SPRING HOUSE THE VILLAGE AT JACKSON GORE WOMEN’S SKI SPREE

OKEMO MOUNTAIN FOOD AND BEVERAGE, INC.	Colorado	EPIC JACKSON GORE INN SIENA AT JACKSON GORE SKY BAR SMOKEY JOE’S GRILL THE COLEMAN BROOK TAVERN THE CORNER STORE AT JACKSON GORE THE INN AT JACKSON GORE THE SITTING BULL LOUNGE VERMONT PIZZA AT OKEMO WILLIE DUNN’S GRILLE
ONE RIVER RUN, LLC	Colorado
ONE SKI HILL PLACE, LLC	Colorado
PAOLI PEAKS, INC.	Missouri
PARK PROPERTIES, INC.	Delaware
PEAK TO CREEK HOLDINGS CORP.	British Columbia
PEAK TO CREEK LODGING COMPANY LTD.	British Columbia	LODGING OVATIONS
PEAK RESORTS, INC.	Missouri
PERISHER BLUE PTY LIMITED	Australia
PROPERTY MANAGEMENT ACQUISITION CORP., INC.	Tennessee	ROCKY MOUNTAIN RESORT LODGING COMPANY
RCR VAIL, LLC	Colorado	ROCKY MOUNTAIN RESIDENCES, LLC
ROCKRESORTS ARRABELLE, LLC	Colorado
ROCKRESORTS CORDILLERA LODGE COMPANY, LLC	Colorado
ROCKRESORTS COSTA RICA S.R.L.	Costa Rica
ROCKRESORTS DR, LLC	Delaware
ROCKRESORTS EQUINOX, INC.	Vermont
ROCKRESORTS HOTEL JEROME, LLC	Colorado
ROCKRESORTS INTERNATIONAL, LLC	Delaware
ROCKRESORTS INTERNATIONAL MANAGEMENT COMPANY	Colorado	ROCKRESORTS INTERNATIONAL MANAGEMENT COMPANY, LLC
ROCKRESORTS JAMAICA LIMITED	Jamaica
ROCKRESORTS SKI TIP, LLC	Colorado
ROCKRESORTS (ST. LUCIA) INC.	St. Lucia
ROCKRESORTS THIRD TURTLE, LTD.	Turks & Caicos Islands
ROCKRESORTS WYOMING, LLC	Wyoming
ROCKRESORTS, LLC	Delaware
SKI LIBERTY OPERATING CORP.	Pennsylvania
SKI ROUNDTOP OPERATING CORP.	Pennsylvania
SKIINFO AS	Norway

SLIFER SMITH & FRAMPTON/VAIL ASSOCIATES REAL ESTATE, LLC	Colorado	SLIFER, SMITH & FRAMPTON REAL ESTATE SLIFER, SMITH & FRAMPTON/VAIL ASSOCIATES SLIFER, SMITH & FRAMPTON/VAIL ASSOCIATES LLC VAIL LIONSHEAD REAL ESTATE BROKERS VAIL-LIONSHEAD REAL ESTATE BROKERS VAIL-LIONSHEAD REAL ESTATE CO.
SOHO DEVELOPMENT, LLC	Colorado
SNH DEVELOPMENT, INC.	Missouri
SNOW CREEK, INC.	Missouri
SNOW TIME ACQUISITION, INC.	Missouri
SNOW TIME, INC.	Delaware

SSI VENTURE, INC. Utah ALL MOUNTAIN SPORTS ALTERNATIVE EDGE ANY MOUNTAIN ASPEN SPORTS AT SNOWMASS ASPEN SPORTS BEAVER CREEK FLY FISHER BEAVER CREEK SIGNATURE SHOP BICYCLE VILLAGE OF COLORADO BOARDER CROSS BOARDER CROSSING BOARDER X-ING BOARDINGHOUSE CECILS BOOTSIE LACY B LLC BOULDER SKI AND BIKE BOULDER SKI AND BIKE DEALS BOULDER SKI DEALS BRECKENRIDGE SPORTS BREEZE BREEZE SKI RENTALS BREEZE SKI & SPORT BUTTERBOX BUTTERBOX RENTAL SHOP BUYSKIS.COM CB MOUNTAIN OUTFITTERS COLORADO SKI AND BIKE COLORADO SKI & GOLF COLORADO SNOWBOARDS COPPER MOUNTAIN SPORTS COPPER VILLAGE SPORTS CRESTED BUTTE RENTAL & DEMO CENTER DEPOT DEPOT SKI RENTALS EFLIN SPORTS EPIC MOUNTAIN GEAR EPIC MOUNTAIN RENATLS FRISCO SPORTS GRAND WEST OUTFITTERS

SSI VENTURE, INC. (Continued) Colorado GONDOLA SPORTS GORE CREEK FLY FISHERMAN HAPPY THOUGHTS HEAVENLY BOULDER HEAVENLY LAKELAND VILLAGE HEAVENLY SPORTS HEAVENLY SPORTS - CECILS HEAVENLY STAGECOACH HEAVENLY TAMARACK LODGE HOIGAARD’S HS GONDOLA SPORTS KEYSTONE SPORTS KIRKWOOD MOUNTAIN SPORTS KIRKWOOD VILLAGE DEMOS KIRKWOOD VILLAGE RENTALS LAKE TAHOE RESORT HOTEL LIONSHEAD SPORTS LOGO’D AT GRAND LODGE MAIN LODGE RENTAL MAIN LODGE RETAIL MAIN STREET OUTLET MID MOUNTAIN RETAIL SHOP MAX SNOWBOARD MINE CHILDREN’S MOUNTAIN BASICS MOUNTAIN SPORTS OUTLET MOUNTAINSPORT TELLURIDE MOUNTAIN ADVENTURE CENTER NORTHSTAR ADVENTURE CENTER NORTHSTAR LOGO NORTHSTAR LOGO COMPANY NORTHSTAR ON MTN DEMOS NORTHSTAR SPORTS ONE TRACK MIND PARK CITY MOUNTAIN SPORTS PEAK SPORTS PERFORMANCE SKI & BOARD DEMO RENTBOARDS.COM RENTSKIS.COM RENTSKIS GOLDRITZ RENTAL SHOP RIVER RUN SPORTSROCKY MOUNTAIN EYES AND TEES ROCKY MOUNTAIN EYES AND T'S

SSI VENTURE, INC. (Continued)	Colorado	ROCKY MOUNTAIN EYEWEAR ROCKY MOUNTAIN EYEWEAR LTD. SAN MIGUEL ANGLERS SKI & BOARD RENTAL SHOP SKI DEPOT SKI DEPOT RENTALS SKI DEPOT SPORTS SNOWMASS SPORT STALKER SPECIALTY SPORTS NETWORK SPECIALTY SPORTS VENTURE STEAMBOAT SPORTS TAYLOR CREEK TAYLOR CREEK ANGLING SERVICES TAYLOR CREEK FLY SHOPS TAYLOR CREEK SPORTS TELLURIDE ADVENTURES TELLURIDE MOUNTAIN BIKE HEADQUARTERS LLC TELLURIDE MOUNTAINCRAFT LLC TELLURIDE SPORTS TEN MILE SPORTS THE BOARDING HOUSE THE DEPOT THE SKI DOCTOR TIMBER CREEK KW RETAIL\RENTAL TRUE NORTH VAIL FISHING GUIDES VAIL FLY-FISHING VAIL FLY-FISHING OUTFITTERS VAIL RESORTS RETAIL VAIL SPORTS VAIL SPORTS KIDS WINTER PARK SKI RENTALS WINTER PARK SKI SWAP ZEPHYR LODGE NORTHSTAR
SSV HOLDINGS, INC.	Colorado	NEVE SPORTS
SSV ONLINE LLC	Wisconsin	OUTDOOR OUTLET
SSV ONLINE HOLDINGS, INC.	Colorado
STAGECOACH DEVELOPMENT, LLC	Nevada
STAMPEDE CANTEEN, LLC	Wyoming
SUMMIT SKI LIMITED	British Columbia
SYCAMORE LAKE, INC.	Ohio	ALPINE VALLEY
TCRM COMPANY	Delaware
TENDERFOOT SEASONAL HOUSING, LLC	Colorado
TETON HOSPITALITY SERVICES, INC.	Wyoming
THE CANYONS GOLF CLUB, LLC	Colorado
THE CHALETS AT THE LODGE AT VAIL, LLC	Colorado	THE LODGE AT VAIL CHALETS

THE SUNAPEE DIFFERENCE LLC	New Hampshire	MOUNT SUNAPEE CUTTING EDGE LEARNING CENTER MOUNT SUNAPEE CUTTING EDGE SKI SCHOOL MOUNT SUNAPEE LODGING BUREAU MOUNT SUNAPEE LODGING SERVICE MOUNT SUNAPEE NEW HAMPSHIRE’S RESORT MOUNT SUNAPEE RENTAL SHOP MOUNT SUNAPEE RESERVATION BUREAU MOUNT SUNAPEE RESERVATION SERVICE MOUNT SUNAPEE RESORT MOUNT SUNAPEE SKI AND SNOWBOARD SHOP MOUNT SUNAPEE SKI AREA MOUNT SUNAPEE SKI RENTALS MOUNT SUNAPEE SKI SHOP MOUNT SUNAPEE SNOWSPORTS SHOP NEW HAMPSHIRE’S BEST CORDUROY SNOW PROS VILLAGE AT MOUNT SUNAPEE WHISK AROUND THE MOUNTAIN
THE VAIL CORPORATION	Colorado	ARROWHEAD ALPINE CLUB ASPEN GROVE AVAIL ADVENTURE OUTFITTERS, LTD. BACHELOR GULCH CLUB BACHELOR GULCH BEAVER CREEK CLUB BEAVER CREEK RESORT PASSPORT CLUB PRATER LANE PLAY SCHOOL RED SKY GOLF CLUB RED SKY GOLF CLUB GUEST CLUBHOUSE PRO SHOP RED SKY GOLF CLUB MEMBER PRO SHOP THE ARRABELLE CLUB THE OSPREY AT BEAVER CREEK THE PASSPORT CLUBHOUSE AT GOLDEN PEAK THE YOUNGER GENERATION VAIL ASSOCIATES, INC. VAIL CONSULTANTS VAIL MOUNTAIN VAIL MOUNTAIN HIKING CENTER VAIL RESORTS MANAGEMENT COMPANY VAIL SNOWBOARD SUPPLY

THE VILLAGE AT BRECKENRIDGE ACQUISITION CORP., INC.	Tennessee	BRECKENRIDGE MOUNTAIN LODGE MAGGIE CAFETERIA MOUNTAIN THUNDER PROPERTY MANAGEMENT COMPANY ROCKY MOUNTAIN RESORT LODGING THE VILLAGE AT BRECKENRIDGE THE VILLAGE AT BRECKENRIDGE RESORT VILLAGE PUB
TRIMONT LAND COMPANY	California	NORTHSTAR AT TAHOE RESORT NORTHSTAR CALIFORNIA
TRIPLE PEAKS, LLC	Colorado
VAIL ASSOCIATES HOLDINGS, LTD.	Colorado
VAIL ASSOCIATES INVESTMENTS, INC.	Colorado	WARREN LAKES VENTURE, LTD.
VAIL ASSOCIATES REAL ESTATE, INC.	Colorado
VAIL FOOD SERVICES, INC.	Colorado	BISTRO 14 EXTRA EXTRA FOX HOLLOW GOLF COURSE CLUBHOUSE GOLDEN PEAK GRILL GOLDEN PEAK RESTAURANT AND CANTINA IN THE DOG HAUS ONE ELK RESTAURANT RIPPEROO’S CORNER CAFÉ SALSA'S THE LIONS DEN BAR & GRILL TWO ELK RESTAURANT VAIL MOUNTAIN DINING COMPANY WAFFLE WAY WILDWOOD EXPRESS WILDWOOD SMOKEHOUSE
VAIL HOLDINGS FINANCE B.V.	Netherlands

VAIL HOLDINGS, INC.	Colorado	APRÉS LOUNGE AVON AT BEAVER CREEK. AVON-VAIL COMPANY BEAVER CREEK ADVERTISING AGENCY BEAVER CREEK EQUESTRIAN CENTER BEAVER CREEK GOLF AND TENNIS CLUB BEAVER CREEK GOLF CLUB BAR & GRILL BEAVER CREEK GOLF CLUB BEAVER CREEK GUIDES BEAVER CREEK JEEP GUIDES BEAVER CREEK SKI PATROL BEAVER CREEK SKI RENTAL BEAVER CREEK SKI REPAIR BEAVER CREEK SKI RESORT BEAVER CREEK SKI SCHOOL BEAVER CREEK SKI SERVICE BEAVER CREEK SKI SHOPS BEAVER CREEK SPORTING GOODS BEAVER CREEK SPORT SHOP BEAVER CREEK SPORTS BEAVER CREEK TENNIS CLUB BEAVER CREEK VACATION RESORT EAGLE RESIDENCES GAME CREEK CLUB LODGE AT BEAVER CREEK PLAZA LODGE AT BEAVER CREEK THE ENCLAVE RESTAURANT THE INN AT BEAVER CREEK TRAIL'S END BAR VAIL ASSOCIATES DEVELOPMENT CORPORATION VAIL/BEAVER CREEK CENTRAL RESERVATIONS VAIL-BEAVER CREEK COMPANY VAIL BEAVER CREEK REAL ESTATE VAIL MOUNTAIN CLUB VAIL MOUNTAIN RESORT VAIL MOUNTAIN RESORT AND CONFERENCE CENTER VAIL PRODUCTIONS WILDWOOD SHELTER
VAIL HOTEL MANAGEMENT COMPANY, LLC	Colorado
VAIL RESORTS DEVELOPMENT COMPANY	Colorado	VAIL ASSOCIATES REAL ESTATE GROUP
VAIL RESORTS LODGING COMPANY	Delaware	PARK CITY RENTAL MANAGEMENT COMPANY VAIL RESORTS HOSPITALITY
VAIL RR, INC.	Colorado

VAIL SUMMIT RESORTS, INC.	Colorado	BEAVER CREEK VILLAGE TRAVEL BRECKENRIDGE HOSPITALITY BRECKENRIDGE LODGING & HOSPITALITY BRECKENRIDGE MOUNTAIN RESORT BRECKENRIDGE PROPERTY MANAGEMENT BRECKENRIDGE SKI RESORT BRECKENRIDGE SKI RESORT CORPORATION COLORADO VACATIONS KEYSTONE CONFERENCE CENTER KEYSTONE LODGE & SPA KEYSTONE LODGING AND HOSPITALITY KEYSTONE RESORT KEYSTONE STABLES KEYSTONE TRAVEL RESERVATIONS FOR THE SUMMIT ROCKY MOUNTAIN RESORT RESERVATIONS ROCKY MOUNTAIN RESORTVACATIONS ROCKY MOUNTAIN SKI CONSOLIDATORS VAIL/BEAVER CREEK CENTRAL RESERVATIONS VAIL/BEAVER CREEK RESERVATIONS VAIL/BEAVER CREEK TRAVEL
VAIL TRADEMARKS, INC.	Colorado	VAIL RESORTS TRADEMARKS
VAIL/ARROWHEAD, INC.	Colorado
VAIL/BEAVER CREEK RESORT PROPERTIES, INC.	Colorado	ARROWHEAD PROPERTY MANAGEMENT COMPANY BACHELOR GULCH PROPERTY MANAGEMENT COMPANY BEAVER CREEK RESORT PROPERTIES BEAVER CREEK TENNIS CENTER TRAPPER'S CABIN VAIL PROPERTY MANAGEMENT
VAMHC, INC.	Colorado
VR ACQUISITION, INC.	California
VR AUSTRALIA HOLDINGS PTY LTD	Australia

VR CPC HOLDINGS, INC.	Delaware	CANYONS GOLF COURSE BEVERAGE CARTS CANYONS RESORT COBRA DOG SHACK KRISTI’S COFFEE CAFÉ LEGACY LODGE LEGACY SPORTS LEGENDS AT THE RESORT MID MOUNTAIN MINER'S CAMP RESTAURANT PARK CITY MOUNTAIN RESORT PARK CITY MOUNTAIN PARK CITY RESORT SNOW HUT SUMMIT HOUSE THE CANYONS PARK CITY RESORT
VR CPC SERVICES, LLC	Delaware
VR HEAVENLY CONCESSIONS, INC.	California
VR HEAVENLY I, INC.	Colorado
VR HEAVENLY II, INC.	Colorado
VR HOLDINGS, INC.	Colorado
VR NE HOLDINGS, LLC	Delaware	JACKSON COUNTRY CLUB JACKSON GORE AT OKEMO MOUNTAIN RESORT JACKSON GORE LODGE JACKSON GORE RENTALS JACKSON GORE RESERVATIONS JACKSON GORE VACATION CLUB JACKSON GORE VACATIONS JACKSON GORE VILLAGE JACKSON GORE VILLAGE LODGING SERVICE JACKSON GORE VILLAGE RENTALS JACKSON GORE VILLAGE SPORT AND FITNESS CENTER
VR NW HOLDINGS, INC.	Delaware
VR US HOLDINGS, INC.	Delaware	AFTON ALPS AFTON ALPS RESORT BRUHN’S MT. BRIGHTON MT. BRIGHTON RESORT ONE CREEK MOUNTAIN GRILL SKI HILL GRILL THE TRUCK

VR US HOLDINGS II, LLC	Delaware	STOWE MOUNTAIN RESORT ADVENTURE CENTER CLIFF HOUSE RESTAURANT CUBS CHILD CARE GONDOLA CAFÉ LODGE AT MT. MANSFIELD LODGE AT STOWE MOUNTAIN RESORT MIDWAY CAFÉ MT. MANSFIELD BASELODGE MT. MANSFIELD SKI PATROL OCTAGON CAFETERIA SMUGGLERS DEN SPRUCE BASE CAMP SPURCE CAMP BASE LODGE SPRUCE CAMP SPRUCE LODGET AT MT. MANSFIELD STOWE ADVENTURE CENTER STOWE BASE CAMP STOWE CUBS DAYCARE THE CANTEEN RESTAURANT THE FIRESIDE TAVERN THE INN AT THE MOUNTAIN THE OCTAGON TOLL HOUSE CONFERENCE CENTER TREETOP ADVENTURE ZIPTOUR ADVENTURE
VR WM HOLDINGS, LLC	Delaware	WILMOT MOUNTAIN RESORT
VRV AUSTRALIA PTY LTD	Australia
WB LAND INC.	British Columbia
WB LAND (CREEKSIDE SNOW SCHOOL) INC.	British Columbia
WB/T DEVELOPMENT LTD.	British Columbia
WC ACQUISITION CORP.	New Hampshire
WEST LAKE WATER PROJECT, LLC	Vermont
WHISTLER & BLACKCOMB MOUNTAIN RESORTS LIMITED	British Columbia
WHISTLER ALPINE CLUB INC.	British Columbia
WHISTLER BLACKCOMB EMPLOYMENT CORP.	British Columbia
WHISTLER BLACKCOMB HOLDINGS INC. (f/k/a 1068877 BC Ltd.)	British Columbia
WHISTLER/BLACKCOMB MOUNTAIN EMPLOYEE HOUSING LTD.	British Columbia
WHISTLER BLACKCOMB GENERAL PARTNER LTD.	British Columbia
WHISTLER HELI-SKIING LTD.	British Columbia
WHISTLER MOUNTAIN RESORT LIMITED PARTNERSHIP	British Columbia
WHISTLER SKI SCHOOL LTD.	British Columbia
WHITETAIL MOUNTAIN OPERATING CORP.	Pennsylvania

1Includes only those entities owned 50% or greater.