The Resorts Companies Names Smith President as Krohn Shifts to Vice Chairman
The employee-owned hospitality and timeshare operator restructures its leadership ahead of its next growth phase.
The Resorts Companies, Inc., a 100% employee-owned hospitality, timeshare and real estate development company, has announced a leadership transition. Steve Krohn will move to Vice Chairman, while Matthias Smith has been named President.
The structural shift reflects the Charlottesville, Virginia-based firm's strategic positioning for what executives describe as its next phase of growth and execution. By elevating Smith to the president role, the company is consolidating operational authority under new leadership while retaining Krohn in a senior advisory capacity.
Employee ownership has become increasingly common in the hospitality sector as a means of aligning workforce incentives with long-term performance. For The Resorts Companies, the model extends across its portfolio of hospitality assets, timeshare operations, and real estate development ventures. The leadership change suggests the company is preparing for expansion or operational changes that warrant fresh executive stewardship.
Details regarding Smith's prior tenure at the company, his specific responsibilities, or the scope of operational changes accompanying the transition were not disclosed. Similarly, the company provided no information about Krohn's tenure as the company's previous leader or the circumstances prompting the shift.
The announcement came on October 5, 2026. The Resorts Companies operates across multiple segments within leisure hospitality and real estate development, though specific asset counts, revenue figures, or geographic footprints were not included in the announcement.
With Smith at the helm operationally, industry observers will be watching for signals about potential acquisitions, portfolio restructuring, or geographic expansion that typically follow leadership transitions of this nature.