Virginia Resorts Companies Names Matthias Smith President as Steve Krohn Becomes Vice Chairman

The Resorts Companies has appointed Matthias Smith as president, while Steve Krohn moves to vice chairman. The planned leadership change comes as the Virginia-based employee-owned hospitality group advances major resort, residential, travel and vacation ownership investments centred on Massanutten Mountain and its wider portfolio.

Virginia hospitality group confirms leadership transition

The Resorts Companies, a 100% employee-owned hospitality, timeshare and real estate development business, has announced a leadership transition designed to support its next stage of growth.

Matthias Smith became President on 1 October 2026. Steve Krohn, previously President and Chief Operating Officer, has moved into the role of Vice Chairman of the Board of Directors.

The company, headquartered in Charlottesville, Virginia, owns and operates Massanutten Resort and Wilderness Presidential Resort. It serves nearly 100,000 owner families and welcomes more than one million visitors each year through its four-season resort experiences.

The transition comes as several major projects move from planning into delivery. These include new accommodation, waterpark, residential, ski and recreation developments connected with Massanutten Mountain.

Smith takes responsibility for companywide execution

As President, Smith will lead The Resorts Companies’ executive team and take responsibility for putting the Board’s five-year strategic plan into action.

His remit includes operational and financial performance, business integration, leadership development, technology, guest experience and accountability across the organisation. He will also oversee efforts to develop vacation ownership products and sales programmes as the company expands its travel and hospitality activities.

Smith joined the organisation in 2014 and became Executive Vice President in 2023. Before joining The Resorts Companies, he held senior hospitality roles with Four Seasons Hotels and Resorts and Orient Express Hotels. He also served as General Manager of Keswick Hall in Charlottesville and the Inn at Perry Cabin in St. Michaels, Maryland.

That background gives Smith experience across luxury hospitality, resort operations and destination management. The company said he has already worked closely with Krohn and the executive team on performance, organisational development, strategic planning and investment projects.

Smith said the priority is to turn recent investments into stronger businesses and memorable guest experiences.

“We have proven strategies, talented leaders and significant new assets and businesses coming online,” Smith said. “Our focus in this next chapter will be to execute with greater speed and discipline.”

“Leadership continuity is particularly important when a destination company is investing across resorts, accommodation, recreation, residential communities and vacation ownership. Matthias Smith’s appointment gives The Resorts Companies a clear executive focus, while Steve Krohn’s strategic role preserves valuable institutional knowledge during an important period of development and delivery.”— Anup Kumar Keshan, Founder and Editor-in-Chief, Travel And Tour World

Krohn remains central to strategic development

Krohn will remain closely involved in the company’s future as Vice Chairman. He will continue to serve on the Board of Directors and as Trustee of the company’s Employee Stock Ownership Plan, or ESOP, Trust.

His direct responsibilities will include new construction at BluestonePeak, the active-adult residential community at Massanutten Mountain. He will also oversee Keyholder Vacations, support further residential development and initiate development and construction work connected to Massanutten Station.

In addition, Krohn will expand his focus on Board development, corporate governance and long-term strategy.

Krohn joined The Resorts Companies in 2012 as Executive Vice President and Chief Operating Officer, following more than a decade leading the company’s principal bank. He became President in 2023.

During his tenure, the company launched BluestonePeak, acquired Keyholder Vacations, brought timeshare sales and marketing under direct leadership, and expanded its senior management team.

The new structure keeps Krohn involved in the company’s most significant long-term projects while placing day-to-day executive leadership under Smith.

Massanutten investment programme enters active phase

The Resorts Companies is advancing several developments at Massanutten Resort, one of Virginia’s best-known four-season holiday destinations.

These include the ShenandoaH2O hotel and Indoor WaterPark expansion, a pending expansion of ski area trails and a new pickleball complex. Together, the projects are intended to broaden the resort’s year-round visitor offer and support longer stays by families, owners and leisure travellers.

The development of BluestonePeak also signals a wider move into active-adult residential living. Alongside Keyholder Vacations, it gives the company a broader presence across accommodation, holiday ownership, travel services and property.

For travellers, the leadership transition matters because it arrives at a point when new facilities and experiences are expected to enter the market. For the region, it supports continuing investment in leisure infrastructure around the Shenandoah Valley.

Dice Hammer, co-founder and Chairman of The Resorts Companies Board of Directors, said the move provides both continuity and momentum.

He said Smith brings deep knowledge of the organisation, while Krohn will remain active in strategic initiatives and Board development. The company’s employee-owned structure also means that long-term performance has a direct relevance for its more than 2,000 team members.

Employee ownership remains a central feature

Founded in 1981, The Resorts Companies has built its business around resort operations, vacation ownership and destination-based travel experiences. Its employee-owned model remains central to the leadership announcement.

The company said its strategy is focused on creating long-term value for employee-owners while continuing to invest in destinations, people, businesses and guest facilities.

With Smith now leading the executive organisation and Krohn concentrating on strategic projects and governance, the company is positioning itself for a period of delivery rather than simply expansion planning.

Conclusion

The Resorts Companies’ leadership change brings Matthias Smith into the President role as major Massanutten-linked projects advance. Steve Krohn remains influential as Vice Chairman, leading strategic developments and governance work. The transition aims to combine operational focus, leadership continuity and long-term value for guests, owners and employee-owners.