Vail Resorts (MTN) 10-Q 9 Dec 16 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Oct. 31, 2016	Dec. 06, 2016
Document And Entity Information [Abstract]
Entity Voluntary Filers	No
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	MTN
Entity Registrant Name	VAIL RESORTS INC
Entity Central Index Key	812,011
Current Fiscal Year End Date	--07-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		39,955,039
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Assets
Cash and cash equivalents	$ 106,751	$ 67,897	$ 39,606
Restricted cash	13,203	6,046	5,562
Trade receivables, net	59,445	147,113	52,389
Inventories, net	112,792	74,589	95,001
Other current assets	40,172	27,220	61,762
Total current assets	332,363	322,865	254,320
Property, plant and equipment, net (Note 6)	1,699,087	1,363,814	1,388,565
Real estate held for sale and investment	116,852	111,088	120,769
Goodwill, net	1,454,943	509,037	499,607
Intangible assets, net	286,360	140,007	142,687
Other assets	34,514	35,207	37,129
Total assets	3,924,119	2,482,018	2,443,077
Liabilities
Accounts payable and accrued liabilities (Note 6)	542,923	397,488	438,837
Income taxes payable	73,739	95,639	54,312
Long-term debt due within one year (Note 4)	38,374	13,354	13,319
Total current liabilities	655,036	506,481	506,468
Long-term debt (Note 4)	1,371,779	686,909	814,797
Other long-term liabilities (Note 6)	272,309	270,168	254,251
Deferred income taxes	98,192	129,994	110,912
Liabilities	2,397,316	1,593,552	1,686,428
Commitments and contingencies (Note 8)
Stockholders' Equity
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued and outstanding	0	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized, 45,060,893 (unaudited), 41,614,432 and 41,566,094 (unaudited) shares issued, respectively	451	416	416
Exchangeable shares, $0.01 par value, 418,095, zero and zero shares issued and outstanding, respectively (Note 5)	4	0	0
Additional paid-in capital	1,209,935	635,986	624,274
Accumulated other comprehensive loss	(19,784)	(1,550)	(7,321)
Retained earnings	394,690	486,667	358,507
Treasury stock, at cost; 5,434,977 (unaudited), 5,434,977 and 5,326,941 (unaudited) shares, respectively (Note 10)	(246,979)	(246,979)	(233,192)
Total Vail Resorts, Inc. stockholders' equity	1,338,317	874,540	742,684
Noncontrolling interests	188,486	13,926	13,965
Total stockholders' equity (Note 2)	1,526,803	888,466	756,649
Total liabilities and stockholders' equity	$ 3,924,119	$ 2,482,018	$ 2,443,077

Consolidated Condensed Balance3

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, shares issued	45,060,893	41,614,432	41,566,094
Exchangeable Shares, Par Value Per Share	$ 0.01	$ 0.01	$ 0.01
Exchangeable Shares, Shares, Issued	418,095	0	0
Treasury stock, shares	5,434,977	5,434,977	5,326,941

Consolidated Condensed Statemen

Consolidated Condensed Statements Of Operations - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Net revenue:
Mountain	$ 110,767	$ 100,933
Lodging	67,402	64,286
Real Estate	96	9,348
Total net revenue	178,265	174,567
Segment operating expense (exclusive of depreciation and amortization shown separately below):
Mountain	168,253	151,158
Lodging	64,080	61,437
Real Estate	1,485	9,341
Total segment operating expense	233,818	221,936
Other operating expense:
Depreciation and amortization	(40,581)	(38,700)
Gain on sale of real property	6,466	1,159
Change in Fair Value of Contingent Consideration	(300)	0
Loss on disposal of fixed assets and other, net	(550)	(1,779)
Loss from operations	(90,518)	(86,689)
Mountain equity investment income, net	832	842
Investment income and other, net	4,523	198
Interest expense	(11,964)	(10,595)
Loss before benefit from income taxes	(97,127)	(96,244)
Benefit from income taxes	33,509	36,574
Net loss	(63,618)	(59,670)
Net loss attributable to noncontrolling interests	(1,031)	(83)
Net loss attributable to Vail Resorts, Inc.	$ (62,587)	$ (59,587)
Per share amounts (Note 3):
Basic net loss per share attributable to Vail Resorts, Inc.	$ (1.70)	$ (1.63)
Diluted net loss per share attributable to Vail Resorts, Inc.	(1.70)	(1.63)
Cash dividends declared per share	$ 0.8100	$ 0.6225

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Net loss	$ (63,618)	$ (59,670)
Foreign currency translation adjustments, net of tax	(24,412)	(2,408)
Comprehensive loss	(88,030)	(62,078)
Comprehensive loss, Net of Tax, Attributable to Noncontrolling Interest	(7,209)	(83)
Comprehensive loss attributable to Vail Resorts, Inc.	$ (80,821)	$ (61,995)

Consolidated Condensed Stateme6

Consolidated Condensed Statements of Stockholders' Equity Statement - USD ($) $ in Thousands	Total	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total Vail Resorts, Inc. Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Common Stock [Member]	Exchangeable Shares [Member]
Balance	$ 880,586	$ (193,192)	$ 623,510	$ 440,748	$ (4,913)	$ 866,568	$ 14,018	$ 415	$ 0
Net loss attributable to Vail Resorts, Inc.	(59,587)			(59,587)		(59,587)
Net loss	(59,670)
Net loss attributable to noncontrolling interests	(83)						(83)
Other Comprehensive loss, Foreign Currency Transaction and Translation Adjustment, Net of Tax	(2,408)				(2,408)
Comprehensive loss, Net of Tax, Attributable to Parent	(61,995)					(61,995)
Comprehensive loss	(62,078)
Comprehensive loss, Net of Tax, Attributable to Noncontrolling Interest	(83)						(83)
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	4,090		4,090			4,090
Issuance of shares under share award plan net of shares withheld for taxes	6,000		6,001			6,000		1
Tax benefit from share award plan	2,675		2,675			2,675
Dividends, Common Stock	(22,654)			(22,654)		(22,654)
Distributions from/to noncontrolling interests, net	30						30
Payments for Repurchase of Common Stock	(40,000)	(40,000)				(40,000)
Balance	756,649	(233,192)	624,274	358,507	(7,321)	742,684	13,965	416	0
Balance	888,466	(246,979)	635,986	486,667	(1,550)	874,540	13,926	416	0
Net loss attributable to Vail Resorts, Inc.	(62,587)			(62,587)		(62,587)
Net loss	(63,618)
Net loss attributable to noncontrolling interests	(1,031)						(1,031)
Other Comprehensive loss, Foreign Currency Transaction and Translation Adjustment, Net of Tax	(24,412)				(18,234)	(18,234)	(6,178)
Comprehensive loss, Net of Tax, Attributable to Parent	(80,821)					(80,821)
Comprehensive loss	(88,030)
Comprehensive loss, Net of Tax, Attributable to Noncontrolling Interest	(7,209)						(7,209)
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	4,577		4,577			4,577
Stock Issued During Period, Value, Acquisitions	574,645		574,608			574,645		33	4
Issuance of shares under share award plan net of shares withheld for taxes	11,524		11,526			11,524		2
Tax benefit from share award plan	6,290		6,290			6,290
Dividends, Common Stock	(29,390)			(29,390)		(29,390)
Noncontrolling Interest, Increase from Business Combination	181,818						181,818
Distributions from/to noncontrolling interests, net	49						49
Payments for Repurchase of Common Stock	0
Balance	$ 1,526,803	$ (246,979)	$ 1,209,935	$ 394,690	$ (19,784)	$ 1,338,317	$ 188,486	$ 451	$ 4

Consolidated Condensed Stateme7

Consolidated Condensed Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net loss	$ (63,618)	$ (59,670)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	40,581	38,700
Cost of real estate sales	0	6,940
Stock-based compensation expense	4,577	4,090
Deferred income taxes, net	(33,509)	(36,574)
Gain on sale of real property	(6,466)	(1,159)
Other non-cash income, net	(5,879)	(703)
Changes in assets and liabilities:
Restricted Cash	(1,111)	7,450
Trade receivables, net	90,431	62,174
Inventories, net	(22,490)	(21,612)
Accounts payable and accrued liabilities	74,681	83,805
Income Taxes Payable	(24,405)	(2,795)
Other assets and liabilities, net	(7,289)	(6,075)
Net cash provided by operating activities	45,503	74,571
Cash flows from investing activities:
Capital expenditures	(46,043)	(25,077)
Acquisition of businesses, net of cash acquired	(512,348)	0
Cash Received From Sale Of Property	7,692	2,842
Other investing activities, net	538	181
Net cash used in investing activities	(550,161)	(22,054)
Cash flows from financing activities:
Proceeds from borrowings under Vail Holdings credit agreement term loan	509,375	0
Proceeds from borrowings under Vail Holdings Credit agreement revolver	110,000	70,000
Repayments of borrowings under Vail Holdings Credit Agreement revolver	(50,000)	(57,500)
Dividends paid	(29,390)	(22,654)
Payments for Repurchase of Common Stock	0	(40,000)
Other financing activities, net	3,456	2,576
Net cash provided by (used in) financing activities	543,441	(47,578)
Effect of exchange rate changes on cash and cash equivalents	71	(792)
Net increase in cash and cash equivalents	38,854	4,147
Cash and cash equivalents:
Beginning of period	67,897	35,459
End of period	106,751	39,606
Capital Expenditures Incurred but Not yet Paid	$ 17,546	$ 24,631

Organization and Business

Organization and Business	3 Months Ended
	Oct. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Vail Resorts, Inc. (“Vail Resorts”) is organized as a holding company and operates through various subsidiaries. Vail Resorts and its subsidiaries (collectively, the “Company”) operate in three business segments: Mountain, Lodging and Real Estate. In the Mountain segment, the Company operates ten world-class mountain resort properties including Vail, Breckenridge, Keystone and Beaver Creek mountain resorts in Colorado; Park City mountain resort in Utah (“Park City”); Heavenly, Northstar and Kirkwood mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb Resort (“Whistler Blackcomb,” acquired in October 2016) in British Columbia, Canada; Perisher Ski Resort (“Perisher”) in New South Wales, Australia; and the ski areas of Wilmot Mountain in Wisconsin (“Wilmot,” acquired in January 2016), Afton Alps in Minnesota and Mount Brighton in Michigan (together “Urban” ski areas); as well as ancillary services, primarily including ski school, dining and retail/rental operations, and for Perisher including lodging and transportation operations. The resorts located in the United States (“U.S.”), except for Northstar, Park City and the Urban ski areas, operate primarily on federal land under the terms of Special Use Permits granted by the United States Department of Agriculture Forest Service (the “Forest Service”). The operations of Whistler Blackcomb are conducted on land owned by the government of the province of British Columbia, Canada within the traditional territory of the Squamish and Lil’wat nations. The operations of Perisher are conducted pursuant to a long-term lease and license on land owned by the government of New South Wales, Australia. In the Lodging segment, the Company owns and/or manages a collection of luxury hotels and condominiums under its RockResorts brand, as well as other strategic lodging properties and a large number of condominiums located in proximity to the Company’s North American mountain resorts, National Park Service (“NPS”) concessionaire properties including the Grand Teton Lodge Company (“GTLC”), which operates destination resorts in Grand Teton National Park, Colorado Mountain Express (“CME”), a Colorado resort ground transportation company, and mountain resort golf courses. Vail Resorts Development Company (“VRDC”), a wholly-owned subsidiary, conducts the operations of the Company’s Real Estate segment, which owns, develops and sells real estate in and around the Company’s resort communities. The Company’s mountain business and its lodging properties at or around the Company’s mountain resorts are seasonal in nature with peak operating seasons primarily from mid-November through mid-April in North America. The Company’s operating seasons at Perisher, its NPS concessionaire properties and its golf courses generally occur from June to early October.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation Consolidated Condensed Financial Statements— In the opinion of the Company, the accompanying Consolidated Condensed Financial Statements reflect all adjustments necessary to state fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. Results for interim periods are not indicative of the results for the entire fiscal year, particularly given the significant seasonality to the Company’s operating cycle. The accompanying Consolidated Condensed Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2016 . Certain information and footnote disclosures, including significant accounting policies, normally included in fiscal year financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) have been condensed or omitted. The Consolidated Condensed Balance Sheet as of July 31, 2016 was derived from audited financial statements. Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Fair Value Instruments— The recorded amounts for cash and cash equivalents, receivables, other current assets, and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Vail Holdings Credit Agreement revolver and term loan, Whistler Credit Agreement revolver and the Employee Housing Bonds (all as defined in Note 4, Long-Term Debt) approximate book value due to the variable nature of the interest rate associated with the debt. Recently Issued Accounting Standards Adopted Standards In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which amends the consolidation requirements in ASC 810, “Consolidation.” This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidated analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (iv) provide a scope exception for certain entities. The standard was effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s first quarter of fiscal 2017). The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company has adopted this standard as of August 1, 2016 which did not have a material impact on the Company’s financial position or results of operations and cash flows. In October 2016, the FASB issued ASU 2016-17, “Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control,” which changes how a single decision maker will consider its indirect interests when performing the primary beneficiary analysis under the VIE model. Under the new guidance, the single decision maker will consider that indirect interest on a proportionate basis. The Company does not have any VIEs under common control and therefore this standard will not have a material impact on the Company’s financial position or results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” The standard provides guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for as an acquisition of a software license. If a cloud computing arrangement does not include a software license, it should be accounted for as a service contract. The standard was effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s first quarter of fiscal 2017) and may be adopted either retrospectively or prospectively. The Company adopted this standard retrospectively as of August 1, 2016 which did not have a material impact on the Company’s financial position or results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” The standard changes how deferred taxes are classified on an entity’s balance sheets. The standard eliminates the current requirement for entities to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent, on a jurisdiction by jurisdiction basis. The standard is effective for financial statements issued for annual periods beginning after December 15, 2016 (the Company’s first quarter of fiscal 2018), with early adoption permitted, and may be applied prospectively or retrospectively. The Company adopted this new accounting standard as of July 31, 2016 which amended presentation requirements, but did not affect the Company’s overall financial position or results of operations and cash flows. The Company adopted this standard on a prospective basis, which reclassified the current deferred income tax asset to the noncurrent deferred income tax liability. Accordingly, the Consolidated Condensed Balance Sheet as of October 31, 2015 has not been retrospectively adjusted. Standards Being Evaluated The authoritative guidance listed below is currently being evaluated for its impact to Company policies upon adoption as well as any significant implementation matters yet to be addressed. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition.” This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of the new revenue standard by one year, and would allow entities the option to early adopt the new revenue standard as of the original effective date. This standard will be effective for the first interim period within fiscal years beginning after December 15, 2017 (the Company’s first quarter of fiscal 2019 if it does not early adopt), using one of two retrospective application methods. The Company is evaluating the impacts, if any, the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows and related disclosures and is determining the appropriate transition method. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which supersedes “Leases (Topic 840).” The standard requires lessees to recognize the assets and liabilities arising from all leases, including those classified as operating leases under previous accounting guidance, on the balance sheet and disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of 12 months or less. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset on their balance sheets, while lessor accounting will be largely unchanged. The standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those years (the Company’s first quarter of fiscal 2020), and must be applied using a modified retrospective transition approach to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows and related disclosures. Additionally, the Company is evaluating the impacts of the standard beyond accounting, including system, data and process changes required to comply with the standard. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The new guidance requires entities to record all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement when the awards vest or are settled. The guidance also requires entities to present excess tax benefits as an operating activity and cash paid to a taxing authority to satisfy statutory withholding as a financing activity on the statement of cash flows. Additionally, the guidance allows entities to make a policy election to account for forfeitures either upon occurrence or by estimating forfeitures. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2016 (the Company’s first quarter of fiscal 2018), with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” The standard provides guidance for eight targeted changes with respect to how cash receipts and cash payments are classified in the statements of cash flows, with the objective of reducing diversity in practice. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2017 (the Company’s first quarter of fiscal 2019), with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s cash flows.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Oct. 31, 2016
Earnings Per Share Reconciliation [Abstract]
Net Income Per Common Share	Net Loss Per Share Basic earnings per share (“EPS”) excludes dilution and is computed by dividing net loss attributable to Vail Resorts stockholders by the total weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then participate in the earnings of Vail Resorts. Presented below is basic and diluted EPS for the three months ended October 31, 2016 and 2015 (in thousands, except per share amounts): Three Months Ended October 31, 2016 2015 Basic Diluted Basic Diluted Net loss per share: Net loss attributable to Vail Resorts $ (62,587 ) $ (62,587 ) $ (59,587 ) $ (59,587 ) Weighted-average Vail Resorts shares outstanding 36,766 36,766 36,471 36,471 Weighted-average Exchangeco shares outstanding 68 68 — — Total Weighted-average shares outstanding 36,834 36,834 36,471 36,471 Effect of dilutive securities — — — — Total shares 36,834 36,834 36,471 36,471 Net loss per share attributable to Vail Resorts $ (1.70 ) $ (1.70 ) $ (1.63 ) $ (1.63 ) In connection with the Company’s acquisition of Whistler Blackcomb in October 2016 (see Note 5, Acquisitions), the Company issued consideration in the form of shares of Vail Resorts common stock, par value $0.01 per share (the “Vail Shares”), and shares of the Company’s wholly owned Canadian subsidiary (“Exchangeco”). Whistler Blackcomb shareholders elected to receive 3,327,719 Vail Shares and 418,095 shares of Exchangeco (the “Exchangeco Shares”). The Company’s calculation of weighted-average shares outstanding includes Vail Shares as well as Exchangeco Shares. Both Vail Shares and Exchangeco Shares have a par value of $0.01 per share and Exchangeco Shares, while outstanding, are substantially the economic equivalent of the corresponding Vail Shares and are exchangeable, at any time prior to the seventh anniversary of the closing, into Vail Shares. Holders of Exchangeco Shares are entitled to cast votes on matters for which holders of Vail Shares are entitled to vote and will be entitled to receive dividends economically equivalent to the dividends declared by Vail Resorts with respect to the Vail Shares. The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive totaled 1.7 million and 1.6 million for the three months ended October 31, 2016 and 2015 , respectively. The Company paid cash dividends of $0.81 and $0.6225 per Vail Resorts share ( $29.4 million and $22.7 million in the aggregate) during the three months ended October 31, 2016 and 2015 respectively. On December 8, 2016, the Company’s Board of Directors declared a quarterly cash dividend of $0.81 per share, for both Vail Resorts shares and Exchangeco shares, payable on January 12, 2017 to stockholders of record as of December 28, 2016 .

Long-Term Debt

Long-Term Debt	3 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	ong-Term Debt Long-term debt as of October 31, 2016 , July 31, 2016 and October 31, 2015 is summarized as follows (in thousands): Maturity October 31, 2016 July 31, 2016 October 31, 2015 Vail Holdings Credit Agreement term loan (a) 2021 $ 750,000 $ 240,625 $ 250,000 Vail Holdings Credit Agreement revolver (a) 2021 135,000 75,000 197,500 Whistler Credit Agreement revolver (b) 2021 142,103 — — Employee housing bonds 2027-2039 52,575 52,575 52,575 Canyons obligation 2063 324,521 323,099 318,866 Other 2017-2028 10,617 11,021 11,436 Total debt 1,414,816 702,320 830,377 Less: Unamortized debt issuance costs (c) 4,663 2,057 2,261 Less: Current maturities (d) 38,374 13,354 13,319 Long-term debt $ 1,371,779 $ 686,909 $ 814,797 (a) On October 14, 2016 , in order to finance the cash portion of the consideration and payment of associated fees and expenses of the Whistler Blackcomb acquisition (see Note 5, Acquisitions), the Company’s wholly owned subsidiary, Vail Holdings, Inc., entered into the Second Amendment to Seventh Amended and Restated Credit Agreement, dated as of May 1, 2015 (the “Vail Holdings Credit Agreement”), with Bank of America, N.A., as administrative agent, and other lenders names therein, through which such lenders provided an additional $509.4 million in incremental term loans, and agreed on behalf of all lenders to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to October 14, 2021 (the “Amendment”). The Vail Holdings Credit Agreement, as amended by the Amendment, consists of a $400.0 million revolving credit facility and a term loan facility in the amount of $750.0 million . Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest at approximately 1.7% as of October 31, 2016. The other material terms of the Vail Holdings Credit Agreement, including those disclosed in the Company’s Annual Report on Form 10-K filed on September 26, 2016, were not altered by the Amendment. The term loan facility is subject to quarterly amortization of principal, which begins on January 31, 2017, in equal installments, with five percent payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due October 2021. (b) The WB Partnerships (as defined in Note 5, Acquisitions) are party to a credit agreement, dated as of November 12, 2013 (as amended, the “Whistler Credit Agreement”), by and among Whistler Mountain Resort Limited Partnership (“Whistler LP”), Blackcomb Skiing Enterprises Limited Partnership (“Blackcomb LP”), certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the “Whistler Subsidiary Guarantors”), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a C$300.0 million revolving credit facility which matures on November 12, 2021 . The WB Partnerships’ obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to C$75.0 million . Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. Dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships’ Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of October 31, 2016, in the case of borrowings (i) in Canadian Dollars, at the WB Partnerships’ option, either (a) at the Canadian Prime Rate plus 1.0% per annum or (b) by way of the issuance of bankers’ acceptances at a stamping fee of 2.00% per annum; and (ii) in U.S. Dollars, at the WB Partnerships option, either at (a) the U.S. Base Rate plus 0.75% per annum or (b) Banker’s Acceptance Rate plus 1.75% per annum (approximately 2.7% as of October 31, 2016). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of October 31, 2016 is equal to 0.3937% per annum. The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships’ ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type. In connection with the Whistler Blackcomb transaction, the WB Partnerships obtained an amendment to the Whistler Credit Agreement to waive the change of control provision that otherwise would have required repayment in full of the facility as a result of the closing of the Whistler Blackcomb acquisition and to extend the maturity to November 12, 2021 . (c) The Company adopted ASU 2015-03 and ASU 2015-15 as of July 31, 2016 which alters the presentation of debt issuance costs. As a result, approximately $2.3 million of debt issuance costs have been reclassified to Long-term debt as of October 31, 2015. (d) Current maturities represent principal payments due in the next 12 months. Aggregate maturities for debt outstanding as of October 31, 2016 reflected by fiscal year (August through July) are as follows (in thousands): Total 2017 (November 2016 through July 2017) $ 28,576 2018 38,397 2019 38,455 2020 38,516 2021 38,580 Thereafter 1,232,292 Total debt $ 1,414,816 The Company incurred gross interest expense of $12.0 million and $10.6 million for the three months ended October 31, 2016 and 2015 , respectively, of which $0.2 million was amortization of deferred financing costs in both periods.

Acquisitions

Acquisitions	3 Months Ended
	Oct. 31, 2016
Business Combinations [Abstract]
Acquisitions	Acquisitions Whistler Blackcomb On August 5, 2016 , the Company entered into an Arrangement Agreement (the “Arrangement Agreement”) to acquire 100% of the outstanding common shares of Whistler Blackcomb (the “Arrangement”). On October 17, 2016 , the Company, through Exchangeco, acquired all of the outstanding common shares of Whistler Blackcomb, for aggregate purchase consideration paid to Whistler Blackcomb shareholders of $1.09 billion . The consideration paid consisted of (i) approximately C$673.8 million ( $512.6 million ) in cash (or C$17.50 per Whistler Blackcomb share), (ii) 3,327,719 Vail Shares and (iii) 418,095 Exchangeco Shares. Each Exchangeco Share is exchangeable by the holder thereof for one Vail Share (subject to customary adjustments for stock splits or other reorganizations). In addition, the Company may require all outstanding Exchangeco Shares to be exchanged into an equal number of Vail Shares upon the occurrence of certain events and at any time following the seventh anniversary of the closing of the Arrangement. While outstanding, holders of Exchangeco Shares will be entitled to cast votes on matters for which holders of Vail Shares are entitled to vote and will be entitled to receive dividends economically equivalent to the dividends declared by the Company with respect to the Vail Shares.` Whistler Blackcomb owns a 75% interest in each of Whistler LP and Blackcomb LP (the “WB Partnerships”), which together operate Whistler Blackcomb resort, a year round mountain resort in British Columbia, Canada with a comprehensive offering of recreational activities, including both snow sports and summer activities. The remaining 25% limited partnership interest in each of the WB Partnerships is maintained by Nippon Cable, an unrelated party to the Company. The WB Partnerships hold land leases and rights-of-way under long-term agreements with the government of the province of British Columbia, Canada within the traditional territory of the Squamish and Lil’wat nations, which provide for the use of land at Whistler Mountain and Blackcomb Mountain. The total cash consideration paid was C$673.8 million . The Company executed forward contracts for the underlying Canadian dollar cash consideration to economically hedge the risk associated with the U.S. dollar to Canadian dollar exchange rates. The Company’s total cost was $509.2 million to accumulate C$673.8 million which was required for the cash component of the purchase consideration. The estimated fair value of the Canadian dollars was approximately $512.6 million upon settlement. Accordingly, the Company realized a gain of $3.4 million on foreign currency exchange rate changes. The gain on foreign currency is considered a separate transaction as it primarily benefited the Company and therefore the Company recorded this gain within Investment income and other, net in its Consolidated Condensed Statements of Operations. The estimated fair value of $512.6 million is considered the cash component of the purchase consideration. The Company held an investment in the form of shares of Whistler Blackcomb common stock prior to the acquisition and, as such, the acquisition-date estimated fair value of this previously held investment was a component of the purchase consideration. Based on the estimated fair value of this investment of $4.3 million , the Company recorded a gain of $0.8 million within Investment income and other, net in its Consolidated Condensed Statements of Operations. Nippon Cable’s 25% limited partnership interest is a noncontrolling economic interest containing certain protective rights and no ability to participate in the day to day operations of the WB Partnerships. The WB Partnership agreements provide that distributions made out of the partnerships be made on the basis of 75% to Whistler Blackcomb and 25% to Nippon Cable. In addition, based upon the terms of the WB Partnerships agreements, the annual distribution rights are non-transferable and transfer of the limited partnership interest is limited to Nippon Cable’s entire interest. Accordingly, the estimate of fair value associated with the noncontrolling interest has been determined based on expected underlying cash flows of the WB Partnerships discounted at a rate commensurate with a market participants expected rate of return for an equity instrument with these associated restrictions. The following summarizes the purchase consideration and the preliminary estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands, except exchange ratio and share price). (in thousands, except exchange ratio and share price amounts) Acquisition Date Estimated Fair Value Total Whistler Blackcomb shares acquired 38,500 Exchange ratio as of October 14, 2016 0.097294 Total Vail Resorts shares issued to Whistler Blackcomb shareholders 3,746 Vail Resorts closing share price on October 14, 2016 $ 153.41 Total value of Vail Resorts shares issued $ 574,645 Total cash consideration paid at C$17.50 ($13.31 on October 17, 2016) per Whistler Blackcomb share 512,558 Total purchase consideration to Whistler Blackcomb shareholders 1,087,203 Estimated fair value of previously held investment in Whistler Blackcomb 4,308 Estimated fair value of Nippon Cable’s 25% interest in Whistler Blackcomb 181,818 Total estimated purchase consideration $ 1,273,329 Allocation of total estimated purchase consideration: Estimated fair values of assets acquired: Current assets $ 35,969 Property, plant and equipment 334,384 Real estate held for sale and investment 8,216 Goodwill 964,606 Identifiable intangibles 150,514 Other assets 3,113 Current liabilities (74,466 ) Assumed long-term debt (144,922 ) Deferred income taxes (1,665 ) Other long-term liabilities (2,420 ) Net assets acquired $ 1,273,329 The estimated fair values of assets acquired and liabilities assumed in the acquisition of Whistler Blackcomb are preliminary and are based on the information that was available as of the acquisition date. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however the Company is obtaining additional information necessary to finalize those estimated fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. The Company expects to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date. The estimated fair values of definite-lived and indefinite-lived identifiable intangible assets were determined using significant estimates and assumptions. The estimated fair value and estimated useful lives of identifiable intangible assets, where applicable, are as follows. Estimated Fair Value Weighted Average Amortization Period ($ in thousands) (in years) (1) Trademarks and trade names $ 139,977 n/a Season pass holder relationships 7,417 5 Property management contracts 3,120 n/a Total acquired identifiable intangible assets $ 150,514 (1) Trademarks and trade names and property management contracts are indefinite-lived intangible assets. The excess of the purchase consideration over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected cost efficiencies from the elimination of certain public company costs as well as other select areas of general and administrative functions, synergies, including utilization of the Company’s yield management strategies at Whistler Blackcomb and increased season pass sales and visitation across the Company’s resort portfolio, the assembled workforce of Whistler Blackcomb and other factors. The goodwill is not expected to be deductible for income tax purposes. The operating results of Whistler Blackcomb, which are primarily recorded in the Mountain segment, contributed $0.6 million of net revenue for the three months ended October 31, 2016, prospectively from the acquisition date (acquired on October 17, 2016). The Company recognized $2.6 million of transaction related expenses in Mountain operating expense in the Consolidated Condensed Statements of Operations for the three months ended October 31, 2016. The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisition of Whistler Blackcomb was completed on August 1, 2015. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) transaction and business integration related costs; (iv) interest expense associated with financing the cash portion of the transaction and (v) total weighted average shares outstanding. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place on August 1, 2015 (in thousands, except per share amounts). Three Months Ended October 31, 2016 2015 Pro forma net revenue $ 200,929 $ 195,449 Pro forma net loss attributable to Vail Resorts, Inc. $ (67,678 ) $ (71,000 ) Pro forma basic net loss per share attributable to Vail Resorts, Inc. $ (1.69 ) $ (1.77 ) Pro forma diluted net loss per share attributable to Vail Resorts, Inc. $ (1.69 ) $ (1.77 ) Wilmot Mountain On January 19, 2016 , the Company, through a wholly-owned subsidiary, acquired all of the assets of Wilmot, a ski area located in Wisconsin near the Illinois state line, for total cash consideration of $20.2 million . The purchase price was allocated to identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair value at the acquisition date. The Company has completed its preliminary purchase price allocation and has recorded $12.5 million in property, plant and equipment, $0.2 million in other assets, $0.4 million in other intangible assets (with a weighted-average amortization period of 10 years ) and $0.3 million of assumed liabilities on the date of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was $7.4 million and was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Wilmot and other factors. The goodwill is expected to be deductible for income tax purposes. The operating results of Wilmot are reported within the Mountain segment.

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	3 Months Ended
	Oct. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Supplementary Balance Sheet Information	Supplementary Balance Sheet Information The composition of property, plant and equipment follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Land and land improvements $ 530,634 $ 440,300 $ 431,798 Buildings and building improvements 1,157,546 1,025,515 1,006,033 Machinery and equipment 954,722 866,008 814,362 Furniture and fixtures 291,141 284,959 289,173 Software 106,901 103,754 107,063 Vehicles 64,344 58,159 61,546 Construction in progress 82,895 39,396 86,042 Gross property, plant and equipment 3,188,183 2,818,091 2,796,017 Accumulated depreciation (1,489,096 ) (1,454,277 ) (1,407,452 ) Property, plant and equipment, net $ 1,699,087 $ 1,363,814 $ 1,388,565 The composition of accounts payable and accrued liabilities follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Trade payables $ 90,773 $ 72,658 $ 101,016 Deferred revenue 328,009 182,506 240,288 Accrued salaries, wages and deferred compensation 29,544 43,086 11,878 Accrued benefits 28,564 29,175 22,818 Deposits 18,418 23,307 15,979 Other liabilities 47,615 46,756 46,858 Total accounts payable and accrued liabilities $ 542,923 $ 397,488 $ 438,837 The composition of other long-term liabilities follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Private club deferred initiation fee revenue $ 120,546 $ 121,750 $ 124,449 Unfavorable lease obligation, net 27,284 27,322 29,279 Other long-term liabilities 124,479 121,096 100,523 Total other long-term liabilities $ 272,309 $ 270,168 $ 254,251 The changes in the net carrying amount of goodwill allocated between the Company’s segments for the three months ended October 31, 2016 are as follows (in thousands): Mountain Lodging Goodwill, net Balance at July 31, 2016 $ 441,138 $ 67,899 $ 509,037 Whistler Blackcomb acquisition 964,606 — 964,606 Effects of changes in foreign currency exchange rates (18,700 ) — (18,700 ) Balance at October 31, 2016 $ 1,387,044 $ 67,899 $ 1,454,943

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Oct. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The FASB issued fair value guidance that establishes how reporting entities should measure fair value for measurement and disclosure purposes. The guidance establishes a common definition of fair value applicable to all assets and liabilities measured at fair value and prioritizes the inputs into valuation techniques used to measure fair value. Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value. The three levels of the hierarchy are as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities; Level 2: Inputs include quoted prices for similar assets and liabilities in active and inactive markets or that are observable for the asset or liability either directly or indirectly; and Level 3: Unobservable inputs which are supported by little or no market activity. The table below summarizes the Company’s cash equivalents, Contingent Consideration (as described in our Annual Report on Form 10-K) and Interest Rate Swap measured at fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands). Estimated Fair Value Measurement as of October 31, 2016 Description Total Level 1 Level 2 Level 3 Assets: Money Market $ 3,001 $ 3,001 $ — $ — Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,403 $ — $ 2,403 $ — Liabilities: Contingent Consideration $ 11,400 $ — $ — $ 11,400 Interest Rate Swap $ 1,990 $ — $ 1,990 $ — Estimated Fair Value Measurement as of July 31, 2016 Description Total Level 1 Level 2 Level 3 Assets: Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,403 $ — $ 2,403 $ — Liabilities: Contingent Consideration $ 11,100 $ — $ — $ 11,100 Estimated Fair Value Measurement as of October 31, 2015 Description Total Level 1 Level 2 Level 3 Assets: Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,901 $ — $ 2,901 $ — Liabilities: Contingent Consideration $ 6,900 $ — $ — $ 6,900 The Company’s cash equivalents and Interest Rate Swap are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. The Interest Rate Swap is an instrument assumed in the Whistler Blackcomb acquisition that expires in September 2020 , and is a C$125.0 million ( $93.2 million as of October 31, 2016) fixed swap on the floating interest rate on the assumed Whistler Credit Agreement. Interest Rate Swap settlements and changes in fair value are recognized in Interest Expense on the Consolidated Condensed Statement of Operations. The changes in Contingent Consideration during the three months ended October 31, 2016 and 2015 were as follows (in thousands): 2016 2015 Balance as of July 31, $ 11,100 $ 6,900 Change in estimated fair value 300 — Balance as of October 31, $ 11,400 $ 6,900 During the three months ended October 31, 2016 , the Company increased the estimated fair value of the participating contingent payments by approximately $0.3 million , resulting in an estimated fair value of the Contingent Consideration of $11.4 million reflected in other long-term liabilities in the Consolidated Condensed Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Metropolitan Districts The Company credit-enhances $8.0 million of bonds issued by Holland Creek Metropolitan District (“HCMD”) through an $8.1 million letter of credit issued under the Vail Holdings Credit Agreement. HCMD’s bonds were issued and used to build infrastructure associated with the Company’s Red Sky Ranch residential development. The Company has agreed to pay capital improvement fees to the Red Sky Ranch Metropolitan District (“RSRMD”) until RSRMD’s revenue streams from property taxes are sufficient to meet debt service requirements under HCMD’s bonds, and the Company has recorded a liability of $2.0 million , $2.0 million , and $1.8 million primarily within “other long-term liabilities” in the accompanying Consolidated Condensed Balance Sheets, as of October 31, 2016 , July 31, 2016 and October 31, 2015 , respectively, with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates it will make capital improvement fee payments under this arrangement through the fiscal year ending July 31, 2031 . Guarantees/Indemnifications As of October 31, 2016 , the Company had various other letters of credit totaling $66.3 million , consisting of $53.4 million to support the Employee Housing Bonds and $12.9 million for workers’ compensation, general liability construction related deductibles and other activities. The Company also had surety bonds of $9.3 million as of October 31, 2016 , primarily to provide collateral for its workers compensation self-insurance programs. In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business that include certain indemnifications under which it could be required to make payments to third parties upon the occurrence or non-occurrence of certain future events. These indemnities include indemnities related to licensees in connection with third-parties’ use of the Company’s trademarks and logos, liabilities associated with the infringement of other parties’ technology and software products, liabilities associated with the use of easements, liabilities associated with employment of contract workers and the Company’s use of trustees, and liabilities associated with the Company’s use of public lands and environmental matters. The duration of these indemnities generally is indefinite and generally do not limit the future payments the Company could be obligated to make. As permitted under applicable law, the Company and certain of its subsidiaries have agreed to indemnify their directors and officers over their lifetimes for certain events or occurrences while the officer or director is, or was, serving the Company or its subsidiaries in such a capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that should enable the Company to recover a portion of any amounts paid. Unless otherwise noted, the Company has not recorded any significant liabilities for the letters of credit, indemnities and other guarantees noted above in the accompanying Consolidated Condensed Financial Statements, either because the Company has recorded on its Consolidated Condensed Balance Sheets the underlying liability associated with the guarantee, the guarantee is with respect to the Company’s own performance and is therefore not subject to the measurement requirements as prescribed by GAAP, or because the Company has calculated the fair value of the indemnification or guarantee to be immaterial based upon the current facts and circumstances that would trigger a payment under the indemnification clause. In addition, with respect to certain indemnifications it is not possible to determine the maximum potential amount of liability under these potential obligations due to the unique set of facts and circumstances likely to be involved in each particular claim and indemnification provision. Historically, payments made by the Company under these obligations have not been material. As noted above, the Company makes certain indemnifications to licensees for their use of the Company’s trademarks and logos. The Company does not record any liabilities with respect to these indemnifications. Self Insurance The Company is self-insured for claims under its U.S. health benefit plans and for the majority of workers’ compensation claims in the U.S. Workers compensation claims in the U.S. are subject to stop loss policies. The self-insurance liability related to workers’ compensation is determined actuarially based on claims filed. The self-insurance liability related to claims under the Company’s U.S. health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of accrued benefits in accounts payable and accrued liabilities (see Note 6, Supplementary Balance Sheet Information). Legal The Company is a party to various lawsuits arising in the ordinary course of business. Management believes the Company has adequate insurance coverage and/or has accrued for all loss contingencies for asserted and unasserted matters deemed to be probable losses and estimable. As of October 31, 2016 , July 31, 2016 and October 31, 2015 , the accruals for the above loss contingencies were not material individually and in the aggregate.

Segment Information

Segment Information	3 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has three reportable segments: Mountain, Lodging and Real Estate. The Mountain segment includes the operations of the Company’s mountain resorts/ski areas and related ancillary activities. The Lodging segment includes the operations of the Company’s owned hotels, RockResorts, NPS concessionaire properties, condominium management, CME and mountain resort golf operations. The Real Estate segment owns, develops and sells real estate in and around the Company’s resort communities. The Company’s reportable segments, although integral to the success of the others, offer distinctly different products and services and require different types of management focus. As such, these segments are managed separately. The Company reports its segment results using Reported EBITDA (defined as segment net revenue less segment operating expenses, plus or minus segment equity investment income or loss, and for the Real Estate segment, plus gain on sale of real property). The Company reports segment results in a manner consistent with management’s internal reporting of operating results to the chief operating decision maker (Chief Executive Officer) for purposes of evaluating segment performance. Items excluded from Reported EBITDA are significant components in understanding and assessing financial performance. Reported EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income (loss), net change in cash and cash equivalents or other financial statement data presented in the consolidated condensed financial statements as indicators of financial performance or liquidity. The Company utilizes Reported EBITDA in evaluating performance of the Company and in allocating resources to its segments. Mountain Reported EBITDA consists of Mountain net revenue less Mountain operating expense plus or minus Mountain equity investment income or loss. Lodging Reported EBITDA consists of Lodging net revenue less Lodging operating expense. Real Estate Reported EBITDA consists of Real Estate net revenue less Real Estate operating expense plus gain or loss on sale of real property. All segment expenses include an allocation of corporate administrative expense. Assets are not allocated between segments, or used to evaluate performance, except as shown in the table below. The accounting policies specific to each segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The following table presents financial information by reportable segment, which is used by management in evaluating performance and allocating resources (in thousands): Three Months Ended October 31, 2016 2015 Net revenue: Lift $ 21,426 $ 20,153 Ski school 3,851 3,384 Dining 13,368 12,355 Retail/rental 36,479 32,389 Other 35,643 32,652 Total Mountain net revenue 110,767 100,933 Lodging 67,402 64,286 Total Resort net revenue 178,169 165,219 Real estate 96 9,348 Total net revenue $ 178,265 $ 174,567 Operating expense: Mountain $ 168,253 $ 151,158 Lodging 64,080 61,437 Total Resort operating expense 232,333 212,595 Real estate 1,485 9,341 Total segment operating expense $ 233,818 $ 221,936 Gain on sale of real property $ 6,466 $ 1,159 Mountain equity investment income, net $ 832 $ 842 Reported EBITDA: Mountain $ (56,654 ) $ (49,383 ) Lodging 3,322 2,849 Resort (53,332 ) (46,534 ) Real estate 5,077 1,166 Total Reported EBITDA $ (48,255 ) $ (45,368 ) Real estate held for sale and investment $ 116,852 $ 120,769 Reconciliation to net loss attributable to Vail Resorts, Inc.: Total Reported EBITDA $ (48,255 ) $ (45,368 ) Depreciation and amortization (40,581 ) (38,700 ) Change in estimated fair value of Contingent Consideration (300 ) — Loss on disposal of fixed assets and other, net (550 ) (1,779 ) Investment income and other, net 4,523 198 Interest expense (11,964 ) (10,595 ) Loss before benefit from income taxes (97,127 ) (96,244 ) Benefit from income taxes 33,509 36,574 Net loss $ (63,618 ) $ (59,670 ) Net loss attributable to noncontrolling interests 1,031 83 Net loss attributable to Vail Resorts, Inc. $ (62,587 ) $ (59,587 )

Stock Repurchase Plan

Stock Repurchase Plan	3 Months Ended
	Oct. 31, 2016
Payments for Repurchase of Equity [Abstract]
Stock Repurchase Plan	Repurchase Program On March 9, 2006, the Company’s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to 3,000,000 Vail Shares. On July 16, 2008, the Company’s Board of Directors increased the authorization by an additional 3,000,000 Vail Shares, and on December 4, 2015, the Company’s Board of Directors increased the authorization by an additional 1,500,000 Vail Shares for a total authorization to repurchase shares of up to 7,500,000 Vail Shares. During the three months ended October 31, 2016 , the Company did not repurchase any Vail Shares. During the three months ended October 31, 2015 , the Company repurchased 377,830 Vail Shares (at a total cost of $40.0 million ). Since inception of its share repurchase program through October 31, 2016 , the Company has repurchased 5,434,977 Vail Shares at a cost of approximately $247.0 million . As of October 31, 2016 , 2,065,023 Vail Shares remained available to repurchase under the existing share repurchase program which has no expiration date. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for the issuance of Vail Shares under the Company’s employee share award plan.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Standards Being Evaluated The authoritative guidance listed below is currently being evaluated for its impact to Company policies upon adoption as well as any significant implementation matters yet to be addressed. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition.” This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of the new revenue standard by one year, and would allow entities the option to early adopt the new revenue standard as of the original effective date. This standard will be effective for the first interim period within fiscal years beginning after December 15, 2017 (the Company’s first quarter of fiscal 2019 if it does not early adopt), using one of two retrospective application methods. The Company is evaluating the impacts, if any, the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows and related disclosures and is determining the appropriate transition method. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which supersedes “Leases (Topic 840).” The standard requires lessees to recognize the assets and liabilities arising from all leases, including those classified as operating leases under previous accounting guidance, on the balance sheet and disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of 12 months or less. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset on their balance sheets, while lessor accounting will be largely unchanged. The standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those years (the Company’s first quarter of fiscal 2020), and must be applied using a modified retrospective transition approach to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows and related disclosures. Additionally, the Company is evaluating the impacts of the standard beyond accounting, including system, data and process changes required to comply with the standard. In March 2016, the FASB issued ASU No. 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” The new guidance requires entities to record all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement when the awards vest or are settled. The guidance also requires entities to present excess tax benefits as an operating activity and cash paid to a taxing authority to satisfy statutory withholding as a financing activity on the statement of cash flows. Additionally, the guidance allows entities to make a policy election to account for forfeitures either upon occurrence or by estimating forfeitures. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2016 (the Company’s first quarter of fiscal 2018), with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s financial position or results of operations and cash flows. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.” The standard provides guidance for eight targeted changes with respect to how cash receipts and cash payments are classified in the statements of cash flows, with the objective of reducing diversity in practice. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2017 (the Company’s first quarter of fiscal 2019), with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting standard will have on the Company’s cash flows.
Consolidated Financial Statements Policy [Table Text Block]	Consolidated Condensed Financial Statements— In the opinion of the Company, the accompanying Consolidated Condensed Financial Statements reflect all adjustments necessary to state fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. Results for interim periods are not indicative of the results for the entire fiscal year, particularly given the significant seasonality to the Company’s operating cycle. The accompanying Consolidated Condensed Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2016 . Certain information and footnote disclosures, including significant accounting policies, normally included in fiscal year financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) have been condensed or omitted. The Consolidated Condensed Balance Sheet as of July 31, 2016 was derived from audited financial statements.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Recently Issued Accounting Standards Adopted Standards In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis,” which amends the consolidation requirements in ASC 810, “Consolidation.” This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidated analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (iv) provide a scope exception for certain entities. The standard was effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s first quarter of fiscal 2017). The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company has adopted this standard as of August 1, 2016 which did not have a material impact on the Company’s financial position or results of operations and cash flows. In October 2016, the FASB issued ASU 2016-17, “Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control,” which changes how a single decision maker will consider its indirect interests when performing the primary beneficiary analysis under the VIE model. Under the new guidance, the single decision maker will consider that indirect interest on a proportionate basis. The Company does not have any VIEs under common control and therefore this standard will not have a material impact on the Company’s financial position or results of operations and cash flows. In April 2015, the FASB issued ASU No. 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” The standard provides guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for as an acquisition of a software license. If a cloud computing arrangement does not include a software license, it should be accounted for as a service contract. The standard was effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s first quarter of fiscal 2017) and may be adopted either retrospectively or prospectively. The Company adopted this standard retrospectively as of August 1, 2016 which did not have a material impact on the Company’s financial position or results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” The standard changes how deferred taxes are classified on an entity’s balance sheets. The standard eliminates the current requirement for entities to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, entities will be required to classify all deferred tax assets and liabilities as noncurrent, on a jurisdiction by jurisdiction basis. The standard is effective for financial statements issued for annual periods beginning after December 15, 2016 (the Company’s first quarter of fiscal 2018), with early adoption permitted, and may be applied prospectively or retrospectively. The Company adopted this new accounting standard as of July 31, 2016 which amended presentation requirements, but did not affect the Company’s overall financial position or results of operations and cash flows. The Company adopted this standard on a prospective basis, which reclassified the current deferred income tax asset to the noncurrent deferred income tax liability. Accordingly, the Consolidated Condensed Balance Sheet as of October 31, 2015 has not been retrospectively adjusted.

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Oct. 31, 2016
Earnings Per Share Reconciliation [Abstract]
Summary Of Calculation On Basic And Diluted EPS	Presented below is basic and diluted EPS for the three months ended October 31, 2016 and 2015 (in thousands, except per share amounts): Three Months Ended October 31, 2016 2015 Basic Diluted Basic Diluted Net loss per share: Net loss attributable to Vail Resorts $ (62,587 ) $ (62,587 ) $ (59,587 ) $ (59,587 ) Weighted-average Vail Resorts shares outstanding 36,766 36,766 36,471 36,471 Weighted-average Exchangeco shares outstanding 68 68 — — Total Weighted-average shares outstanding 36,834 36,834 36,471 36,471 Effect of dilutive securities — — — — Total shares 36,834 36,834 36,471 36,471 Net loss per share attributable to Vail Resorts $ (1.70 ) $ (1.70 ) $ (1.63 ) $ (1.63 )

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Schedule Of Long-Term Debt	Long-term debt as of October 31, 2016 , July 31, 2016 and October 31, 2015 is summarized as follows (in thousands): Maturity October 31, 2016 July 31, 2016 October 31, 2015 Vail Holdings Credit Agreement term loan (a) 2021 $ 750,000 $ 240,625 $ 250,000 Vail Holdings Credit Agreement revolver (a) 2021 135,000 75,000 197,500 Whistler Credit Agreement revolver (b) 2021 142,103 — — Employee housing bonds 2027-2039 52,575 52,575 52,575 Canyons obligation 2063 324,521 323,099 318,866 Other 2017-2028 10,617 11,021 11,436 Total debt 1,414,816 702,320 830,377 Less: Unamortized debt issuance costs (c) 4,663 2,057 2,261 Less: Current maturities (d) 38,374 13,354 13,319 Long-term debt $ 1,371,779 $ 686,909 $ 814,797 (a) On October 14, 2016 , in order to finance the cash portion of the consideration and payment of associated fees and expenses of the Whistler Blackcomb acquisition (see Note 5, Acquisitions), the Company’s wholly owned subsidiary, Vail Holdings, Inc., entered into the Second Amendment to Seventh Amended and Restated Credit Agreement, dated as of May 1, 2015 (the “Vail Holdings Credit Agreement”), with Bank of America, N.A., as administrative agent, and other lenders names therein, through which such lenders provided an additional $509.4 million in incremental term loans, and agreed on behalf of all lenders to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to October 14, 2021 (the “Amendment”). The Vail Holdings Credit Agreement, as amended by the Amendment, consists of a $400.0 million revolving credit facility and a term loan facility in the amount of $750.0 million . Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest at approximately 1.7% as of October 31, 2016. The other material terms of the Vail Holdings Credit Agreement, including those disclosed in the Company’s Annual Report on Form 10-K filed on September 26, 2016, were not altered by the Amendment. The term loan facility is subject to quarterly amortization of principal, which begins on January 31, 2017, in equal installments, with five percent payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due October 2021. (b) The WB Partnerships (as defined in Note 5, Acquisitions) are party to a credit agreement, dated as of November 12, 2013 (as amended, the “Whistler Credit Agreement”), by and among Whistler Mountain Resort Limited Partnership (“Whistler LP”), Blackcomb Skiing Enterprises Limited Partnership (“Blackcomb LP”), certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the “Whistler Subsidiary Guarantors”), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a C$300.0 million revolving credit facility which matures on November 12, 2021 . The WB Partnerships’ obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to C$75.0 million . Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. Dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships’ Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of October 31, 2016, in the case of borrowings (i) in Canadian Dollars, at the WB Partnerships’ option, either (a) at the Canadian Prime Rate plus 1.0% per annum or (b) by way of the issuance of bankers’ acceptances at a stamping fee of 2.00% per annum; and (ii) in U.S. Dollars, at the WB Partnerships option, either at (a) the U.S. Base Rate plus 0.75% per annum or (b) Banker’s Acceptance Rate plus 1.75% per annum (approximately 2.7% as of October 31, 2016). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of October 31, 2016 is equal to 0.3937% per annum. The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships’ ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type. In connection with the Whistler Blackcomb transaction, the WB Partnerships obtained an amendment to the Whistler Credit Agreement to waive the change of control provision that otherwise would have required repayment in full of the facility as a result of the closing of the Whistler Blackcomb acquisition and to extend the maturity to November 12, 2021 . (c) The Company adopted ASU 2015-03 and ASU 2015-15 as of July 31, 2016 which alters the presentation of debt issuance costs. As a result, approximately $2.3 million of debt issuance costs have been reclassified to Long-term debt as of October 31, 2015. (d) Current maturities represent principal payments due in the next 12 months.
Schedule Of Aggregate Maturities For Debt Outstanding	Aggregate maturities for debt outstanding as of October 31, 2016 reflected by fiscal year (August through July) are as follows (in thousands): Total 2017 (November 2016 through July 2017) $ 28,576 2018 38,397 2019 38,455 2020 38,516 2021 38,580 Thereafter 1,232,292 Total debt $ 1,414,816

Acquisitions Acquisitions (Tabl

Acquisitions Acquisitions (Tables)	3 Months Ended
	Oct. 31, 2016
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]	The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisition of Whistler Blackcomb was completed on August 1, 2015. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) transaction and business integration related costs; (iv) interest expense associated with financing the cash portion of the transaction and (v) total weighted average shares outstanding. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place on August 1, 2015 (in thousands, except per share amounts). Three Months Ended October 31, 2016 2015 Pro forma net revenue $ 200,929 $ 195,449 Pro forma net loss attributable to Vail Resorts, Inc. $ (67,678 ) $ (71,000 ) Pro forma basic net loss per share attributable to Vail Resorts, Inc. $ (1.69 ) $ (1.77 ) Pro forma diluted net loss per share attributable to Vail Resorts, Inc. $ (1.69 ) $ (1.77 )
Whistler Blackcomb [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Whistler Blackcomb On August 5, 2016 , the Company entered into an Arrangement Agreement (the “Arrangement Agreement”) to acquire 100% of the outstanding common shares of Whistler Blackcomb (the “Arrangement”). On October 17, 2016 , the Company, through Exchangeco, acquired all of the outstanding common shares of Whistler Blackcomb, for aggregate purchase consideration paid to Whistler Blackcomb shareholders of $1.09 billion . The consideration paid consisted of (i) approximately C$673.8 million ( $512.6 million ) in cash (or C$17.50 per Whistler Blackcomb share), (ii) 3,327,719 Vail Shares and (iii) 418,095 Exchangeco Shares. Each Exchangeco Share is exchangeable by the holder thereof for one Vail Share (subject to customary adjustments for stock splits or other reorganizations). In addition, the Company may require all outstanding Exchangeco Shares to be exchanged into an equal number of Vail Shares upon the occurrence of certain events and at any time following the seventh anniversary of the closing of the Arrangement. While outstanding, holders of Exchangeco Shares will be entitled to cast votes on matters for which holders of Vail Shares are entitled to vote and will be entitled to receive dividends economically equivalent to the dividends declared by the Company with respect to the Vail Shares.` Whistler Blackcomb owns a 75% interest in each of Whistler LP and Blackcomb LP (the “WB Partnerships”), which together operate Whistler Blackcomb resort, a year round mountain resort in British Columbia, Canada with a comprehensive offering of recreational activities, including both snow sports and summer activities. The remaining 25% limited partnership interest in each of the WB Partnerships is maintained by Nippon Cable, an unrelated party to the Company. The WB Partnerships hold land leases and rights-of-way under long-term agreements with the government of the province of British Columbia, Canada within the traditional territory of the Squamish and Lil’wat nations, which provide for the use of land at Whistler Mountain and Blackcomb Mountain. The total cash consideration paid was C$673.8 million . The Company executed forward contracts for the underlying Canadian dollar cash consideration to economically hedge the risk associated with the U.S. dollar to Canadian dollar exchange rates. The Company’s total cost was $509.2 million to accumulate C$673.8 million which was required for the cash component of the purchase consideration. The estimated fair value of the Canadian dollars was approximately $512.6 million upon settlement. Accordingly, the Company realized a gain of $3.4 million on foreign currency exchange rate changes. The gain on foreign currency is considered a separate transaction as it primarily benefited the Company and therefore the Company recorded this gain within Investment income and other, net in its Consolidated Condensed Statements of Operations. The estimated fair value of $512.6 million is considered the cash component of the purchase consideration. The Company held an investment in the form of shares of Whistler Blackcomb common stock prior to the acquisition and, as such, the acquisition-date estimated fair value of this previously held investment was a component of the purchase consideration. Based on the estimated fair value of this investment of $4.3 million , the Company recorded a gain of $0.8 million within Investment income and other, net in its Consolidated Condensed Statements of Operations. Nippon Cable’s 25% limited partnership interest is a noncontrolling economic interest containing certain protective rights and no ability to participate in the day to day operations of the WB Partnerships. The WB Partnership agreements provide that distributions made out of the partnerships be made on the basis of 75% to Whistler Blackcomb and 25% to Nippon Cable. In addition, based upon the terms of the WB Partnerships agreements, the annual distribution rights are non-transferable and transfer of the limited partnership interest is limited to Nippon Cable’s entire interest. Accordingly, the estimate of fair value associated with the noncontrolling interest has been determined based on expected underlying cash flows of the WB Partnerships discounted at a rate commensurate with a market participants expected rate of return for an equity instrument with these associated restrictions. The following summarizes the purchase consideration and the preliminary estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands, except exchange ratio and share price). (in thousands, except exchange ratio and share price amounts) Acquisition Date Estimated Fair Value Total Whistler Blackcomb shares acquired 38,500 Exchange ratio as of October 14, 2016 0.097294 Total Vail Resorts shares issued to Whistler Blackcomb shareholders 3,746 Vail Resorts closing share price on October 14, 2016 $ 153.41 Total value of Vail Resorts shares issued $ 574,645 Total cash consideration paid at C$17.50 ($13.31 on October 17, 2016) per Whistler Blackcomb share 512,558 Total purchase consideration to Whistler Blackcomb shareholders 1,087,203 Estimated fair value of previously held investment in Whistler Blackcomb 4,308 Estimated fair value of Nippon Cable’s 25% interest in Whistler Blackcomb 181,818 Total estimated purchase consideration $ 1,273,329 Allocation of total estimated purchase consideration: Estimated fair values of assets acquired: Current assets $ 35,969 Property, plant and equipment 334,384 Real estate held for sale and investment 8,216 Goodwill 964,606 Identifiable intangibles 150,514 Other assets 3,113 Current liabilities (74,466 ) Assumed long-term debt (144,922 ) Deferred income taxes (1,665 ) Other long-term liabilities (2,420 ) Net assets acquired $ 1,273,329 The estimated fair values of assets acquired and liabilities assumed in the acquisition of Whistler Blackcomb are preliminary and are based on the information that was available as of the acquisition date. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however the Company is obtaining additional information necessary to finalize those estimated fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. The Company expects to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date. The estimated fair values of definite-lived and indefinite-lived identifiable intangible assets were determined using significant estimates and assumptions. The estimated fair value and estimated useful lives of identifiable intangible assets, where applicable, are as follows. Estimated Fair Value Weighted Average Amortization Period ($ in thousands) (in years) (1) Trademarks and trade names $ 139,977 n/a Season pass holder relationships 7,417 5 Property management contracts 3,120 n/a Total acquired identifiable intangible assets $ 150,514 (1) Trademarks and trade names and property management contracts are indefinite-lived intangible assets. The excess of the purchase consideration over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected cost efficiencies from the elimination of certain public company costs as well as other select areas of general and administrative functions, synergies, including utilization of the Company’s yield management strategies at Whistler Blackcomb and increased season pass sales and visitation across the Company’s resort portfolio, the assembled workforce of Whistler Blackcomb and other factors. The goodwill is not expected to be deductible for income tax purposes. The operating results of Whistler Blackcomb, which are primarily recorded in the Mountain segment, contributed $0.6 million of net revenue for the three months ended October 31, 2016, prospectively from the acquisition date (acquired on October 17, 2016). The Company recognized $2.6 million of transaction related expenses in Mountain operating expense in the Consolidated Condensed Statements of Operations for the three months ended October 31, 2016.
Wilmot [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Wilmot Mountain On January 19, 2016 , the Company, through a wholly-owned subsidiary, acquired all of the assets of Wilmot, a ski area located in Wisconsin near the Illinois state line, for total cash consideration of $20.2 million . The purchase price was allocated to identifiable tangible and intangible assets acquired and liabilities assumed based on their estimated fair value at the acquisition date. The Company has completed its preliminary purchase price allocation and has recorded $12.5 million in property, plant and equipment, $0.2 million in other assets, $0.4 million in other intangible assets (with a weighted-average amortization period of 10 years ) and $0.3 million of assumed liabilities on the date of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was $7.4 million and was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Wilmot and other factors. The goodwill is expected to be deductible for income tax purposes. The operating results of Wilmot are reported within the Mountain segment.

Supplementary Balance Sheet I22

Supplementary Balance Sheet Information (Tables)	3 Months Ended
	Oct. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Composition Of Property, Plant And Equipment	The composition of property, plant and equipment follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Land and land improvements $ 530,634 $ 440,300 $ 431,798 Buildings and building improvements 1,157,546 1,025,515 1,006,033 Machinery and equipment 954,722 866,008 814,362 Furniture and fixtures 291,141 284,959 289,173 Software 106,901 103,754 107,063 Vehicles 64,344 58,159 61,546 Construction in progress 82,895 39,396 86,042 Gross property, plant and equipment 3,188,183 2,818,091 2,796,017 Accumulated depreciation (1,489,096 ) (1,454,277 ) (1,407,452 ) Property, plant and equipment, net $ 1,699,087 $ 1,363,814 $ 1,388,565
Components Of Accounts Payable And Accrued Liabilities	The composition of accounts payable and accrued liabilities follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Trade payables $ 90,773 $ 72,658 $ 101,016 Deferred revenue 328,009 182,506 240,288 Accrued salaries, wages and deferred compensation 29,544 43,086 11,878 Accrued benefits 28,564 29,175 22,818 Deposits 18,418 23,307 15,979 Other liabilities 47,615 46,756 46,858 Total accounts payable and accrued liabilities $ 542,923 $ 397,488 $ 438,837
Components Of Other Long-Term Liabilities	The composition of other long-term liabilities follows (in thousands): October 31, 2016 July 31, 2016 October 31, 2015 Private club deferred initiation fee revenue $ 120,546 $ 121,750 $ 124,449 Unfavorable lease obligation, net 27,284 27,322 29,279 Other long-term liabilities 124,479 121,096 100,523 Total other long-term liabilities $ 272,309 $ 270,168 $ 254,251
Schedule of Goodwill [Table Text Block]	The changes in the net carrying amount of goodwill allocated between the Company’s segments for the three months ended October 31, 2016 are as follows (in thousands): Mountain Lodging Goodwill, net Balance at July 31, 2016 $ 441,138 $ 67,899 $ 509,037 Whistler Blackcomb acquisition 964,606 — 964,606 Effects of changes in foreign currency exchange rates (18,700 ) — (18,700 ) Balance at October 31, 2016 $ 1,387,044 $ 67,899 $ 1,454,943

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Oct. 31, 2016
Fair Value Disclosures [Abstract]
Summary Of Cash Equivalents Measured At Fair Value	The table below summarizes the Company’s cash equivalents, Contingent Consideration (as described in our Annual Report on Form 10-K) and Interest Rate Swap measured at fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands). Estimated Fair Value Measurement as of October 31, 2016 Description Total Level 1 Level 2 Level 3 Assets: Money Market $ 3,001 $ 3,001 $ — $ — Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,403 $ — $ 2,403 $ — Liabilities: Contingent Consideration $ 11,400 $ — $ — $ 11,400 Interest Rate Swap $ 1,990 $ — $ 1,990 $ — Estimated Fair Value Measurement as of July 31, 2016 Description Total Level 1 Level 2 Level 3 Assets: Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,403 $ — $ 2,403 $ — Liabilities: Contingent Consideration $ 11,100 $ — $ — $ 11,100 Estimated Fair Value Measurement as of October 31, 2015 Description Total Level 1 Level 2 Level 3 Assets: Commercial Paper $ 2,401 $ — $ 2,401 $ — Certificates of Deposit $ 2,901 $ — $ 2,901 $ — Liabilities: Contingent Consideration $ 6,900 $ — $ — $ 6,900

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Oct. 31, 2016
Segment Reporting [Abstract]
Summary Of Financial Information By Reportable Segment	The following table presents financial information by reportable segment, which is used by management in evaluating performance and allocating resources (in thousands): Three Months Ended October 31, 2016 2015 Net revenue: Lift $ 21,426 $ 20,153 Ski school 3,851 3,384 Dining 13,368 12,355 Retail/rental 36,479 32,389 Other 35,643 32,652 Total Mountain net revenue 110,767 100,933 Lodging 67,402 64,286 Total Resort net revenue 178,169 165,219 Real estate 96 9,348 Total net revenue $ 178,265 $ 174,567 Operating expense: Mountain $ 168,253 $ 151,158 Lodging 64,080 61,437 Total Resort operating expense 232,333 212,595 Real estate 1,485 9,341 Total segment operating expense $ 233,818 $ 221,936 Gain on sale of real property $ 6,466 $ 1,159 Mountain equity investment income, net $ 832 $ 842 Reported EBITDA: Mountain $ (56,654 ) $ (49,383 ) Lodging 3,322 2,849 Resort (53,332 ) (46,534 ) Real estate 5,077 1,166 Total Reported EBITDA $ (48,255 ) $ (45,368 ) Real estate held for sale and investment $ 116,852 $ 120,769 Reconciliation to net loss attributable to Vail Resorts, Inc.: Total Reported EBITDA $ (48,255 ) $ (45,368 ) Depreciation and amortization (40,581 ) (38,700 ) Change in estimated fair value of Contingent Consideration (300 ) — Loss on disposal of fixed assets and other, net (550 ) (1,779 ) Investment income and other, net 4,523 198 Interest expense (11,964 ) (10,595 ) Loss before benefit from income taxes (97,127 ) (96,244 ) Benefit from income taxes 33,509 36,574 Net loss $ (63,618 ) $ (59,670 ) Net loss attributable to noncontrolling interests 1,031 83 Net loss attributable to Vail Resorts, Inc. $ (62,587 ) $ (59,587 )

Net Income Per Common Share Net

Net Income Per Common Share Net Income per Common Share (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 08, 2016	Oct. 31, 2016	Oct. 31, 2015
Anti-dilutive securities (in shares)		1,700,000	1,600,000
Cash dividends declared per share		$ 0.8100	$ 0.6225
Dividends Payable, Date to be Paid		Jan. 12, 2017
Payments of Dividends		$ 29,390	$ 22,654
Dividends Payable, Date of Record		Dec. 28, 2016
Scenario, Forecast [Member]
Cash dividends declared per share	$ 0.8100
Common Stock [Member]
Stock Issued During Period, Shares, New Issues		3,327,719
Exchangeable Shares [Member]
Stock Issued During Period, Shares, New Issues		418,095

Net Income Per Common Share (Su

Net Income Per Common Share (Summary of Calculation of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Net loss attributable to Vail Resorts, Inc.	$ (62,587)	$ (59,587)
Weighted Average Number of Shares Outstanding, Common	36,766	36,471
Weighted Average Number of Shares Outstanding, Exchangeable	68	0
Weighted-average shares outstanding, basic (in shares)	36,834	36,471
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0
Weighted Average Number of Shares Outstanding, Diluted	36,834	36,471
Basic net loss per share attributable to Vail Resorts, Inc.	$ (1.70)	$ (1.63)
Diluted net loss per share attributable to Vail Resorts, Inc.	$ (1.70)	$ (1.63)

Long-Term Debt Long-Term Debt (

Long-Term Debt Long-Term Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2016
Gross interest expense	$ 12,000	$ 10,600
Long-term Debt	1,414,816	830,377	$ 702,320
Amortization of deferred financing costs	200	200
Unamortized Debt Issuance Expense	$ 4,663	2,261	2,057
Term Loan [Member]
Line of Credit Facility, Initiation Date	Oct. 14, 2016
Line of Credit Facility, Increase (Decrease), Net	$ 509,400
Debt Instrument, Maturity Date	Oct. 14, 2021
Long-term Line of Credit	$ 750,000
Long-term Debt	$ 750,000	250,000	240,625
Debt Instrument, Interest Rate, Stated Percentage	1.70%
Long-term Debt, Description	The term loan facility is subject to quarterly amortization of principal, which begins on January 31, 2017, in equal installments, with five percent payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due October 2021.
Credit Facility Revolver [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000
Long-term Debt	$ 135,000	197,500	75,000
Whistler Credit Agreement revolver [Member]
Line of Credit Facility, Initiation Date	Nov. 12, 2013
Debt Instrument, Maturity Date	Nov. 12, 2021
Long-term Debt	$ 142,103	$ 0	$ 0
Debt Instrument, Interest Rate, Stated Percentage	2.70%
Long-term Debt, Description	Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. Dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships’ Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of October 31, 2016, in the case of borrowings (i) in Canadian Dollars, at the WB Partnerships’ option, either (a) at the Canadian Prime Rate plus 1.0% per annum or (b) by way of the issuance of bankers’ acceptances at a stamping fee of 2.00% per annum; and (ii) in U.S. Dollars, at the WB Partnerships option, either at (a) the U.S. Base Rate plus 0.75% per annum or (b) Banker’s Acceptance Rate plus 1.75% per annum
Debt Instrument, Unused Borrowing Capacity, Fee	0.3937%
Canada, Dollars | Whistler Credit Agreement revolver [Member]
Line of Credit Facility, Remaining Borrowing Capacity	$ 75,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000

Long-Term Debt (Schedule Of Deb

Long-Term Debt (Schedule Of Debt Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Long-term Debt	$ 1,414,816	$ 702,320	$ 830,377
Unamortized Debt Issuance Expense	4,663	2,057	2,261
Less: Current maturities	38,374	13,354	13,319
Long-term debt, excluding current maturities	1,371,779	686,909	814,797
Credit Facility Revolver [Member]
Long-term Debt	$ 135,000	75,000	197,500
Fiscal year maturity	2,021
Whistler Credit Agreement revolver [Member]
Long-term Debt	$ 142,103	0	0
Fiscal year maturity	2,021
Debt Instrument, Interest Rate, Stated Percentage	2.70%
Term Loan [Member]
Long-term Debt	$ 750,000	240,625	250,000
Fiscal year maturity	2,021
Debt Instrument, Interest Rate, Stated Percentage	1.70%
Employee Housing Bonds [Member]
Long-term Debt	$ 52,575	52,575	52,575
Canyons Obligation [Member]
Long-term Debt	$ 324,521	323,099	318,866
Fiscal year maturity	2,063
Other [Member]
Long-term Debt	$ 10,617	$ 11,021	$ 11,436
Maximum [Member] | Employee Housing Bonds [Member]
Fiscal year maturity, end	May 1, 2039
Maximum [Member] | Other [Member]
Fiscal year maturity, end	Jul. 31, 2028
Minimum [Member] | Employee Housing Bonds [Member]
Fiscal year maturity, start	Jun. 1, 2027
Minimum [Member] | Other [Member]
Fiscal year maturity, start	Jul. 31, 2017

Long-Term Debt (Schedule Of Agg

Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Debt Instrument [Line Items]
2,017	$ 28,576
2,018	38,397
2,019	38,455
2,020	38,516
2,021	38,580
Thereafter	1,232,292
Total debt	$ 1,414,816	$ 702,320	$ 830,377

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ / shares in Units, CAD in Millions	3 Months Ended
	Oct. 31, 2016USD ($)$ / sharesshares	Oct. 31, 2016CADshares	Jan. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 17, 2016USD ($)	Oct. 14, 2016$ / shares	Jan. 19, 2016USD ($)
Payments to Acquire Businesses, Net of Cash Acquired	$ 512,348,000			$ 0
Noncontrolling Interest, Increase from Business Combination	181,818,000
Goodwill, Acquired During Period	$ 964,606,000
Whistler Blackcomb [Member]
Business Acquisition, Date of Acquisition Agreement	Aug. 5, 2016	Aug. 5, 2016
Shares Purchased to Acquire Business | shares	38,500,000	38,500,000
Foreign Currency Exchange Rate, Translation						0.097294
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	3,746,000	3,746,000
Business Acquisition, Effective Date of Acquisition	Oct. 17, 2016	Oct. 17, 2016
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years	5 years
Noncontrolling Interest, Ownership Percentage by Parent	75.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	25.00%
Wilmot [Member]
Business Acquisition, Effective Date of Acquisition			Jan. 19, 2016
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
Business Combination, Consideration Transferred			$ 20,200,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							$ 12,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets							200,000
Goodwill, Acquired During Period			$ 7,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable							$ 300,000
United States of America, Dollars | Whistler Blackcomb [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables					$ 35,969,000
Business Combination, Consideration Transferred	$ 1,087,203,000
Business Acquisition, Share Price | $ / shares	$ 13.31
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 600,000
Business Combination, Consideration Transferred	512,558,000
Business Combination, Consideration Transferred, Other	4,308,000
Total Estimated Purchase Consideration					1,273,329,000
Realized Investment Gains (Losses)	800,000
Payments to Acquire Businesses, Gross	509,200,000
Foreign Currency Transaction Gain (Loss), Realized	3,400,000
Business Acquisition, Transaction Costs	2,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					334,384,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					150,514,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets					3,113,000
Goodwill, Acquired During Period	$ 964,606,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					144,922,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent					1,665,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					74,466,000
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned					574,645,000
Share Price | $ / shares						$ 153.41
Business Acquisition, Purchase Price Allocation, Real estate held for sale and investment					$ 8,216,000
Canada, Dollars | Whistler Blackcomb [Member]
Business Acquisition, Share Price | $ / shares	$ 17.50
Business Combination, Consideration Transferred | CAD		CAD 673.8
Noncontrolling Interests [Member]
Noncontrolling Interest, Increase from Business Combination	$ 181,818,000
Common Stock [Member] | Whistler Blackcomb [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	3,327,719	3,327,719
Exchangeable Shares [Member] | Whistler Blackcomb [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	418,095	418,095

Acquisitions (Summary Of Estima

Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Oct. 31, 2016USD ($)shares	Jan. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 17, 2016USD ($)	Oct. 14, 2016$ / shares	Jan. 19, 2016USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 512,348		$ 0
Goodwill, Acquired During Period	964,606
Noncontrolling Interest, Increase from Business Combination	$ 181,818
Whistler Blackcomb [Member]
Business Acquisition [Line Items]
Shares Purchased to Acquire Business | shares	38,500
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Foreign Currency Exchange Rate, Translation					0.097294
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	3,746
Wilmot [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment						$ 12,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill						400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets						200
Goodwill, Acquired During Period		$ 7,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable						$ 300
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Business Combination, Cash Consideration Transferred		$ 20,200
United States of America, Dollars | Whistler Blackcomb [Member]
Business Acquisition [Line Items]
Indefinite-Lived Trademarks				$ 139,977
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables				35,969
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				334,384
Business Acquisition, Purchase Price Allocation, Real estate held for sale and investment				8,216
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				150,514
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets				3,113
Goodwill, Acquired During Period	$ 964,606
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				(74,466)
Business Combination, Consideration Transferred	1,087,203
Finite-Lived Customer Relationships, Gross				7,417
Payments to Acquire Management Contract Rights	3,120
Share Price | $ / shares					$ 153.41
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned				574,645
Business Combination, Cash Consideration Transferred	512,558
Business Combination, Consideration Transferred, Other	4,308
Total Estimated Purchase Consideration				1,273,329
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt				(144,922)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent				(1,665)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other				$ (2,420)
Noncontrolling Interests [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Increase from Business Combination	$ 181,818

Acquisitions (Summary Pro Forma

Acquisitions (Summary Pro Forma Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Pro Forma Financial Information [Line Items]
Pro forma net revenue	$ 200,929	$ 195,449
Business Acquisition, Pro Forma Net Loss	$ (67,678)	$ (71,000)
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$ (1.69)	$ (1.77)
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ (1.69)	$ (1.77)

Supplementary Balance Sheet I33

Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Property, Plant and Equipment [Line Items]
Land and land improvements	$ 530,634	$ 440,300	$ 431,798
Buildings and building improvements	1,157,546	1,025,515	1,006,033
Machinery and equipment	954,722	866,008	814,362
Furniture and fixtures	291,141	284,959	289,173
Software	106,901	103,754	107,063
Vehicles	64,344	58,159	61,546
Construction in progress	82,895	39,396	86,042
Gross property, plant and equipment	3,188,183	2,818,091	2,796,017
Accumulated depreciation	(1,489,096)	(1,454,277)	(1,407,452)
Property, plant and equipment, net	$ 1,699,087	$ 1,363,814	$ 1,388,565

Supplementary Balance Sheet I34

Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Trade payables	$ 90,773	$ 72,658	$ 101,016
Deferred revenue	328,009	182,506	240,288
Accrued salaries, wages and deferred compensation	29,544	43,086	11,878
Accrued benefits	28,564	29,175	22,818
Deposits	18,418	23,307	15,979
Other accruals	47,615	46,756	46,858
Total accounts payable and accrued liabilities	$ 542,923	$ 397,488	$ 438,837

Supplementary Balance Sheet I35

Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Private club deferred initiation fee revenue	$ 120,546	$ 121,750	$ 124,449
Unfavorable lease obligation, net	27,284	27,322	29,279
Other long-term liabilities	124,479	121,096	100,523
Total other long-term liabilities	$ 272,309	$ 270,168	$ 254,251

Supplementary Balance Sheet I36

Supplementary Balance Sheet Information Changes in Goodwill Amount (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Goodwill [Line Items]
Goodwill	$ 1,454,943	$ 509,037	$ 499,607
Goodwill, Acquired During Period	964,606
Goodwill, Translation Adjustments	(18,700)
Mountain [Member]
Goodwill [Line Items]
Goodwill	1,387,044	441,138
Goodwill, Acquired During Period	964,606
Goodwill, Translation Adjustments	(18,700)
Lodging [Member]
Goodwill [Line Items]
Goodwill	67,899	$ 67,899
Goodwill, Acquired During Period	0
Goodwill, Translation Adjustments	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) CAD in Millions	3 Months Ended
	Oct. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2016CAD	Jul. 31, 2016USD ($)	Jul. 31, 2015USD ($)
Business Combination, Contingent Consideration, Liability	$ 11,400,000	$ 6,900,000		$ 11,100,000	$ 6,900,000
Derivative, Maturity Date	Sep. 1, 2020
Money Market Funds, at Carrying Value	$ 3,001,000
Interest Rate Cash Flow Hedge Liability at Fair Value	1,990,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(300,000)	0
Level 1 [Member]
Business Combination, Contingent Consideration, Liability	0	0		0
Money Market Funds, at Carrying Value	3,001,000
Interest Rate Cash Flow Hedge Liability at Fair Value	0
Level 2 [Member]
Business Combination, Contingent Consideration, Liability	0	0		0
Money Market Funds, at Carrying Value	0
Interest Rate Cash Flow Hedge Liability at Fair Value	1,990,000
Fair Value, Inputs, Level 3 [Member]
Business Combination, Contingent Consideration, Liability	11,400,000	6,900,000		11,100,000
Money Market Funds, at Carrying Value	0
Interest Rate Cash Flow Hedge Liability at Fair Value	0
Commercial Paper [Member]
Cash equivalents measured at fair value	2,401,000	2,401,000		2,401,000
Commercial Paper [Member] | Level 2 [Member]
Cash equivalents measured at fair value	2,401,000	2,401,000		2,401,000
Certificates of Deposit [Member]
Cash equivalents measured at fair value	2,403,000	2,901,000		2,403,000
Certificates of Deposit [Member] | Level 2 [Member]
Cash equivalents measured at fair value	2,403,000	$ 2,901,000		$ 2,403,000
Canada, Dollars
Derivative, Notional Amount | CAD			CAD 125
United States of America, Dollars
Derivative, Notional Amount	$ 93,200,000

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015
Amount outstanding in letters of credit	$ 66.3
Surety Bonds Outstanding	9.3
Holland Creek Metropolitan District [Member]
Credit-enhanced bonds issued amount	8
Amount outstanding in letters of credit	8.1
Red Sky Ranch Metropolitan District [Member]
Other long-term liabilities	$ 2	$ 2	$ 1.8
Estimated cessation date of capital improvement fee payment obligation	Jul. 31, 2031
Employee Housing Bonds [Member]
Amount outstanding in letters of credit	$ 53.4
Workers' Compensation and General Liability Related to Construction and Development Activities [Member]
Amount outstanding in letters of credit	$ 12.9

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2016
Total Mountain net revenue	$ 110,767	$ 100,933
Lodging	67,402	64,286
Total Resort net revenue	178,169	165,219
Real Estate	96	9,348
Total net revenue	178,265	174,567
Mountain	168,253	151,158
Lodging	64,080	61,437
Total Resort operating expense	232,333	212,595
Real estate	1,485	9,341
Total segment operating expense	233,818	221,936
Gain on sale of real property	6,466	1,159
Mountain equity investment income, net	832	842
Total Reported EBITDA	(48,255)	(45,368)
Real estate held for sale and investment	116,852	120,769	$ 111,088
Depreciation and amortization	(40,581)	(38,700)
Change in Fair Value of Contingent Consideration	(300)	0
Loss on disposal of fixed assets and other, net	(550)	(1,779)
Investment income and other, net	4,523	198
Interest expense	(11,964)	(10,595)
Loss before benefit from income taxes	(97,127)	(96,244)
Benefit from income taxes	33,509	36,574
Net loss	(63,618)	(59,670)
Net loss attributable to noncontrolling interests	(1,031)	(83)
Net loss attributable to Vail Resorts, Inc.	(62,587)	(59,587)
Lift Tickets [Member]
Total Mountain net revenue	21,426	20,153
Ski School [Member]
Total Mountain net revenue	3,851	3,384
Dining [Member]
Total Mountain net revenue	13,368	12,355
Retail/Rental [Member]
Total Mountain net revenue	36,479	32,389
Other [Member]
Total Mountain net revenue	35,643	32,652
Resort [Member]
Total Reported EBITDA	(53,332)	(46,534)
Mountain [Member]
Total Reported EBITDA	(56,654)	(49,383)
Lodging [Member]
Total Reported EBITDA	3,322	2,849
Real Estate [Member]
Total Reported EBITDA	$ 5,077	$ 1,166

Stock Repurchase Plan (Details)

Stock Repurchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Jul. 31, 2016	Dec. 04, 2015	Jul. 16, 2008	Mar. 09, 2006
Accelerated Share Repurchases [Line Items]
Number of shares authorized to repurchase	7,500,000					3,000,000
Additional number of shares authorized to repurchase				1,500,000	3,000,000
Treasury Stock, Shares, Acquired	0	377,830
Payments for Repurchase of Common Stock	$ 0	$ 40,000
Number of shares repurchased since inception	5,434,977	5,326,941	5,434,977
Value of stock repurchased since inception	$ (246,979)	$ (233,192)	$ (246,979)
Remaining shares available for repurchase under existing program	2,065,023