ASPEN, Colo. (CBS4) – Some of Colorado’s biggest ski resorts say they will merge in a new company that joins with a major hotel and entertainment group.

Steamboat Ski Resort (credit: Doug Pensinger/Getty Images)

Aspen Skiing Company is joining with KSL Partners to form a new company.

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Aspen owns Aspen Mountain, Aspen Highlands, Snowmass and Buttermilk.

KSL is a private equity firm worth billions, with offices in Denver. It owns pricey travel and leisure properties.

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The new company will merge with Intrawest, which owns Steamboat Ski Resort and five other ski areas out of state and in Canada and operates but doesn’t own Winter Park.

If approved, it will mean a buyout of Intrawest stock later this year.

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Intrawest stock was down about one and a half percent in trading Monday morning.