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

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.

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.

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

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