Steve Krohn, formerly executive vice president, was promoted to president and chief operating officer.
CHARLOTTESVILLE, VA. – The Resorts Companies, Inc., owner of Massanutten Resort in Rockingham County, Va. near Harrisonburg and Wilderness Presidential Resort in Spotsylvania County Va. near Fredericksburg, nnounced an evolution in its executive management structure.
Steve Krohn, formerly executive vice president, was promoted to president and chief operating officer. Matthias Smith, formerly vice president-resort performance, was promoted to executive vice president. The company also created a new vice president/marketing role and other positions to further its ongoing success and lead new business initiatives. Searches to fill those roles are underway.
“These promotions reflect the consistent growth and the success we’ve seen over the last decade, including during the pandemic,” Dice Hammer, co-founder, chairman and chief executive officer at The Resorts Companies’ said. “Most importantly, these changes position the company to undertake several significant new strategic initiatives.”
Hammer cited ongoing recreational development, including ski trail expansion, and the proposed single-family active-adult 55+ community at Massanutten as examples. The latter would mark The Resorts Companies’ first foray into year-round residential development.
The company’s real estate holdings include sufficient acreage, zoning, and master planned sites to increase timeshare condos by another 1,800 keys. It also owns more than 5,000 undeveloped acres, primarily zoned residential, adjacent to the active resort properties.
In recent years, alongside private equity investors, the company has made substantial investments in independent companies to further its strategic business interests.
Currently, the two resorts encompass over 1,500 acres, offering nearly 3,000 timeshare condo keys, 1,800 campsites, and 240 hotel rooms. The two resorts have a combined owner base of nearly 100,000 families, including families now in their fourth generation of timeshare ownership. The resorts maintain RCI® Gold Crown and Silver Crown ratings.
The Resorts Companies, Inc. is a 100% employee-owned ESOP (Employee Stock Ownership Plan) company, with approximately 3,200 current and former employees as shareholders. The company currently employs approximately 1,600 full-time, year-round, with approximately 400 additional seasonal staff members hired annually. The Resorts Companies Inc. has owned Massanutten since 1984 and Wilderness Presidential since 1981, when the company was initially founded.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
