Leadership evolution positions employee-owned company for its next phase of growth and execution
CHARLOTTESVILLE, Va., Oct. 5, 2026 /PRNewswire-PRWeb/ -- The Resorts Companies, Inc., a 100% employee-owned hospitality, timeshare and real estate development company, today announced a planned evolution in its executive leadership. Steve Krohn will move from President and Chief Operating Officer to Vice Chairman of the Board of Directors, and Executive Vice President Matthias Smith became President effective October 1, 2026. As Vice Chairman, Krohn will continue to serve on the Board and as Trustee of the company's ESOP Trust.
As Vice Chairman, Krohn will continue to lead new construction at BluestonePeak and several of the company's strategic growth initiatives. His responsibilities will include overseeing Keyholder Vacations, evolving further residential development anchored by BluestonePeak at Massanutten Mountain, and initiating development and construction related to Massanutten Station. As Vice Chairman he will expand his focus on Board development and governance and on helping shape the company's long-range strategy.
Smith will assume overall executive leadership of The Resorts Companies and its expanding portfolio of hospitality, vacation ownership, travel and real estate businesses. As President, he will lead the executive team with responsibility for translating the company's Board-established five-year strategic plan into disciplined execution and measurable results.
The leadership transition comes as several of the company's largest strategic investments move from planning and development into active execution. Recent growth includes the acquisition of Keyholder Vacations, the development of BluestonePeak, a new active-adult residential community at Massanutten Mountain, and continued investment at Massanutten Resort, including the new ShenandoaH2O hotel and Indoor WaterPark expansion, a pending ski area trails expansion and a significant new pickleball complex.
Krohn joined The Resorts Companies in 2012 as Executive Vice President and Chief Operating Officer after more than a decade leading the company's key bank and working closely with company co-founder and Chairman Dice Hammer on the company's needs and numerous other projects. He became President in 2023. During his tenure, Krohn has expanded the company's footprint, launching BluestonePeak, leading the acquisition of Keyholder Vacations, taking direct leadership of timeshare sales and marketing, and building a deeper and more experienced senior leadership team.
"We have spent the last several years building both the opportunities in front of our company and the leadership team capable of pursuing them," said Krohn. "Matthias has been deeply involved in that work and has steadily taken on broader responsibility across the organization. This transition allows him to lead the company into its next phase while I remain directly engaged in several important strategic initiatives and devote greater attention to strengthening our Board and governance structure for the decade ahead."
Smith joined The Resorts Companies in 2014 following an extensive career in luxury hospitality and resort leadership, including management roles with Four Seasons Hotels and Resorts and Orient Express Hotels, as well as serving as General Manager of Keswick Hall in Charlottesville, Virginia, and the Inn at Perry Cabin in St. Michaels, Maryland. Since joining The Resorts Companies, he has held progressively broader responsibilities across the organization. Named Executive Vice President in 2023, he has worked closely with Krohn and the executive leadership team on companywide performance, strategic planning, organizational development and major growth initiatives.
As President, Smith's focus will include driving operational and financial performance, integrating the leadership team and businesses around shared priorities, strengthening accountability for execution, realizing the potential of recent investments, evolving vacation ownership products and sales programs, leveraging technology to improve guest experiences and productivity, and continuing to develop leaders throughout the employee-owned organization.
"Steve has played an extraordinary role in strengthening this company and positioning it for the future, and I'm grateful for his leadership and our partnership over the years," said Smith. "We have proven strategies, talented leaders and significant new assets and businesses coming online. Our focus in this next chapter will be to execute with greater speed and discipline, connect these opportunities across the organization, continue to innovate and translate our investments into remarkable experiences, stronger businesses and meaningful long-term value for our employee-owners."
"This is a thoughtfully planned next step for a leadership team that has worked together successfully for many years," said Dice Hammer, co-founder and Chairman of The Resorts Companies Board of Directors. "Steve's leadership has expanded the company significantly and created the strong and stable leadership foundation necessary for its future. Matthias brings deep knowledge of the organization, extensive hospitality experience and a strong focus on execution and performance. With Matthias leading the company and Steve actively managing strategic initiatives and Board development, we have a strong combination of continuity, momentum and long-term stability."
About The Resorts Companies
The Resorts Companies, Inc. is a 100% employee-owned hospitality, timeshare and real estate company and a recognized leader in the vacation ownership and travel industry. Founded in 1981, the company owns and operates Massanutten Resort and Wilderness Presidential Resort in Virginia and serves nearly 100,000 owner families and more than one million visitors annually through its four-season vacation experiences.
Its growing portfolio includes Keyholder Vacations, expanding the company's capabilities across travel and vacation ownership services, and BluestonePeak at Massanutten Mountain, its new active-adult residential community. Supported by more than 2,000 team members, The Resorts Companies continues to invest in its destinations, businesses, people and experiences to drive long-term value for its employee-owners.
Media Contact
Jackie Santiago, The Resorts Companies, 1 917-628-9054, [email protected]
SOURCE The Resorts Companies
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