The group, which operates properties on Skye and in Oban and Glencoe, says the newly created role forms part of plans to develop its food and drink offering.
Smith will take up the position on 10 November, following Loch Bay’s final service on 31 October.
He and his wife Laurence announced the restaurant’s closure earlier this year.
Loch Bay opened in 2016 and was awarded a Michelin star 18 months later.
“Loch Bay has been the realisation of a lifelong dream,” Smith says.
“It was a huge personal challenge for my family and me, and I’ve learned so much.
“I feel like I’ve achieved everything that I’d ever hoped to, expressing a version of what we believed to be a magical little restaurant.
“So now I’m ready for a new challenge.
“This new role allows me to call upon almost 40 years of experience, and I find that extremely exciting.
“It is also an opportunity to pass on what I’ve learned to the next generations coming up through Scottish hospitality.”
Perle Hotels owner Beth Rehman adds: “Michael’s appointment is a significant investment for us, not just in our restaurants but in our people and in what we want food and drink to become within Perle.
“We’ve known Michael for many years and what has always stood out is his understanding of what makes a restaurant work – the food, of course, but also the people, the place and the experience around it.”
The group’s Skye portfolio comprises The Bosville in Portree, home to Dulse & Brose restaurant; the 34-bedroom Marmalade hotel, also in Portree; and The Bracken Hide, which occupies 52 acres on the town’s outskirts and features individual cabins, a restaurant, whisky bar, sauna and wild swimming pond.
It also operates Perle Oban, a hotel and spa overlooking Oban harbour, and Glencoe House, a mansion built in 1896 with suites and lodges set within ten acres of grounds.
The group plans to open Edinburgh 16-20, a townhouse hotel on Castle Street in Edinburgh city centre, in 2027.