ASPEN, Colo. (CBS4) – The Colorado ski area Steamboat is now owned by the operators of Aspen Snowmass.

READ MORE: Robbery Suspect Pursuit Ends In Shooting On I-25

The Summit Daily News reports the $1.5 billion sale of Intrawest Resort Holdings to a joint venture of KSL Capital Partners and Henry Crown and Company is complete.

READ MORE: Colorado Snow Totals: Boulder County Gets More Than A Foot

Steamboat’s president and COO Rob Perlman said he’s “tremendously excited” about the finalization of the deal.

In addition to the ownership of Steamboat, the joint venture will now operate Winter Park, which is owned by the city of Denver.

MORE NEWS: More Jobs Become Available As Colorado Reopens, Prepares For Post Pandemic

CBS4 reported in April that the deal gives competitor Vail Resorts a challenge.