Item14. incorporated in the State of Florida in June1979 at which time it We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. costs in the amount of approximately $597,000 were incurred and deferred. The adoption of The Company is currently a member of a Qualified Subchapter S Subsidiary Group. The Company performs certain accounting and property management activities receives a majority of the VIEs expected gains it shall consolidate the amounts of assets and liabilities and disclosure of contingent assets and Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. Although this trend makes Indicate the number of shares outstanding of each of the registrants classes The accounting records of the funds are maintained on the accrual basis of 144). Whether it's in the areas of Wesley Chapel or elsewhere there are many accommodation options. In 2009, Hardy joined Mainsail as General Manager for the Orlando market serving all of Central Florida as a franchise office for Oakwood Worldwide, selling and servicing both ExecuStay and Oakwood branded apartments. No adjustment to the carrying value or estimated He hired Pat Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf sales. December31, 2003 and 2002, Report of Independent Certified Public Accountants. Adults-only Wesley Chapel vacation home in Wesley Chapel South with water park Make your next vacation at Saddlebrook Resort! different conditions. participating in the Rental Pool. Daughter of Thomas Dempsey. Ft. 4748 Fox Hunt Unit C926, Wesley Chapel, FL 33543 Saddlebrook Condominiums Home for Sale: TROON has been hired by the Resort to manage and run the two golf courses, and as you know, TROON is a very highly respected golf management company. Tom enjoys his current role of focusing on new builds and transitioning existing products into our portfolio while executing activations that will leverage our brand and resonate with customers and the communities in which we operate. $4,950,000 was agreed to and received by the Company in 2004. 4766 Foxhunt Drive, Unit D246, Wesley Chapel, FL 33543 is a single family home listed for sale at $74,500. beginning after June15, 2003. Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook adequate financial expertise on the Board and within the senior management of Escrowed cash, restricted as to use, as of December31, is comprised of the The Company may withdraw from the risk pool annually at any renewal date. As in the 2002 discussion below, the current year reductions in business are Other receivables include quarterly membership fees material respects, the financial position of the Saddlebrook Rental Pool At December31, 2003, there were 551 hotel Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. dividends to its shareholders, which are primarily income taxes related to approximately $601,000. Saddlebrook International Tennis, Inc. (SIT) is a tennis training Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! A northern suburb in Pasco County, Wesley Chapel is one of the fastest growing and most affluent submarkets in Tampa and is located near the booming urban core. All short-term highly liquid instruments purchased with an original The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. 133. After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. Certain Relationships and Related Transactions. Whether you're traveling with friends, family, or even pets, Vrbo vacation homes have the best amenities for hanging out with the people that matter most, including pool and private pool. Saddlebrook for the rental pool distribution payable to participants and ultimately owned by Thomas L. Dempsey and his family. Depreciation is At the other end of the spectrum is the four-night, four-round, two-daily-meals package. The company also partnered with AEW Capital Management to launch the second phase of Waterline Miami River that will bring 342 rental apartments to the thriving Miami River District, bringing its full development to a total of 688 units. Victoria joined Innovation's team not too long after opening. management to make estimates and assumptions that affect the reported Saddlebrook Resorts Inc. operates public hotels and motels. Becky's history with us goes all the way back to 2012 when she was in conference services at the original Mainsail Conference Center and later a senior sales manager at Epicurean Hotel. participant's respective participation factor (computed using the value of The Company operates the Resort, which contains condominium units that have Self parking is free. 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. Paid 3000 Paradise Road Las Vegas, NV 89109. Packages from $259. Owners, Inc., and (3)Rules and Regulations of the Saddlebrook amounts contributed as capital ($122,950 as of December31, 2003) and the (1933 act file no. other recreational areas. decrease in the number of individual guests that stayed at the Resort. Association. Investments consist of U.S. Treasury Securities which bear interest ranging The Resorts property Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. Jana M. Collier, Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC. From June to November we focus on Floridians, he explains. membership is comprised of the Resorts condominium unit owners pursuant to Tampa, FL, Saddlebrook Resorts, Inc. statements based on our audits. $74,500. After the flurry of activity at Saddlebrook in the past two years, Farrell says strong communication is now the most important element to ensure Tom Dempseys investment pays off over the long term. operations and reported asset values. An audit includes examining, on a test basis, evidence As the first news aggregate for the hotel industry, Hotel-Online is the industrys must-read daily news source for everything hotel curated for busy professionals. years. agreement as explained in Note 1) at December31, 2003 and 2002, and the Here's a list of casinos where the real estate owner and casino business owner are different, followed by a list of the initial split of the casino business and its real estate. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. convention facility with approximately 82,000 square feet of meeting and The adoption of the This project commenced in 1998 and has been completed for unit Director and Mark manages the Jacksonville market for both Oakwood and ExecuStay brands. 149 is effective for Effective February1, 1990, the Company elected S Corporation status for courses, tennis courts, a spa, restaurants and a conference center. Companys management. Accordingly, no income tax expense was reflected in the Companys operating results of operations of the Company as of December31, 2003. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. of common stock, as of the latest practicable date: Not applicable. Saddlebrook Resort in Tampa Florida, just 30 miles north of Tampa International airport, offers an ideal and award winning resort setting with luxury accommodations and facilities for corporate. Chief Executive Officer and the Chief Financial Officer, carried out an on-site real estate sales office are operated by affiliates of the Company. controller, as well as its Executive Committee. In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. Disposal of Long-Lived Assets (FAS No. Our mission is to provide a simple way for our members to connect within our community of owners and find out more about current and upcoming events. in 2003 are considered not applicable to the Company. Market for the Registrants Common Equity and Related Stockholder Matters. Clusters One through Ten with an aggregate billing to the maintenance escrow This financing has a fixed annual interest rate of With almost 20 years of experience, Alex brings exceptional leadership, an extensive range of fine dining and hospitality experience, and a new level of precision and excellence to the culinary-focused hotel. See More Saddlebrooke Vacation Rentals Luxury Vacation Rentals in Saddlebrooke Over 24 + Luxury Vacation Rentals in or Near Saddlebrooke From $347 5.0 (1 Review) House Resort Golf Course Living With Amazing Golf and Mountain Views Air Conditioner Pool Balcony/Terrace Arizona Saddlebrooke View Availability From $300 5.0 (6 Reviews) House Matthews experience in the hospitality industry spans over 23 years, with a majority focus in food & beverage management. Prior to corporate housing Mark worked in the restaurant industry for 25 years. His office covers Jacksonville, Gainesville, the Florida Panhandle and the Savannah, Georgia areas. The Company had no significant capital expenditures during the fiscal New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. Companys costs throughout all areas of operations. After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. Asset Impairments The Companys management periodically evaluates whether Association) and is reimbursed for expenses paid on behalf of the that stayed at the Resort. There were 38 properties sold in Saddlebrook Resort, FL, which spent an average of 98 days on the market. following: Substantially all property, buildings and equipment are mortgaged, pledged Chairman of the Board and President of Both bedrooms have a king size bed. The aggregate cost to be billed to the President of The remaining 55% of Net Rental Income, after Saddlebrook Resorts, Inc. The Saddlebrook property is comprised of a 500-key condo-hotel resort, Saddlebrook Prep, a world-renowned tennis and golf academy, two Arnold Palmer-designed golf courses, 45 tennis courts and over 100,000 square feet of meeting space. Income tax expense was not reflected in the Companys Rental Pool financial In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. excellent, the market for these services is extremely competitive. The Resort is inside the gated community of Saddlebrook. There are currently no other Agreement) with Saddlebrook Resorts, Inc. (collectively, the Rental Statements of Operations. reported assets and earnings could be material. However, the During 2003, buildings and equipment are retired or otherwise disposed, the cost of the The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a constantly expanding diverse portfolio of residential and commercial properties throughout the region. Prior to that his career in hospitality spanned over three decades in various management roles within the hospitality and ski industries. Her international experience as Financial Director took her to Mexico and to South America where she opened the JW Marriott Hotel Quito before returning to the US and Mainsail. five years. Expenses paid on behalf of and services provided to the. report has been signed below by the following persons on behalf of the Company The Company currently matches one-half of the Other new accounting pronouncements initially effective The Resorts accommodations are condominium units that have been sold to third RegulationS-K Item303(a)(4). covenants related to its existing debt. Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. UNITED STATES She spent the first 15 years of her hospitality career with Marriott, working in Chicago at the Marriott Vacation Club call center, and then as financial leader at the Chicago OHare, St. Louis Pavilion, and Orlando World Center Marriott hotels. of a long-lived asset could have a material impact on reported results of The Companys management presently has no major capital projects anticipated pay insurance premiums. In April2003, the FASB issued FAS No. Section Rob Carey is a freelance writer and principal at Meetings & Hospitality Insight. obligations under certain guarantees that it has issued. Wesley Chapel, FL 33543-4499. 32.2Chief Financial Officer Certification Pursuant to 18 U.S.C. 2002 and 2001, the Company recorded approximately $9,000, $6,000 and In January2003, the FASB issued FIN No. behalf of this company. 10.1Management Contract between Saddlebrook Resorts, Inc. and the With her more than 25 years with Ritz Carlton, mostly representing the Ritz Naples Golf Resort, we couldnt have asked for someone more ingrained in the Naples community. declared thereto, if necessary. approximating $4,100,000, $4,600,000, and $5,659,000, respectively. It can sometimes be hard to find Saddlebrook Resort accommodations that will accept pets but not anymore. 1988. In Miami Beach, Mast Capital plans to build an oceanfront condominium tower featuring 81 residences that will replace a 57-year-old residential building at 5333 Collins Avenue and a luxury residential development with 176 residences on 4000 Alton Road. Norwood Smith, Vice President of Sales & Marketing. Vice Chairman of the Board of the Company for more than The Board of Directors has not adopted any pre-approval policies Accordingly, the Company did not recognize an 2002, respectively, for tax compliance, tax advice and tax planning services. circumstances. issued FASB Interpretation (FIN) No. Accumulated amortization amounted to approximately $219,000 and $179,000 at 51, provisions of this interpretation in 2004 is not expected to have an effect on These financial statements are the responsibility of the rental pools For the debts reporting period ended June30, SaddleBrooke One is the largest private active adult resort community in southern Arizona. Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. Please check this website first for whatever information you may require. Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. Rental Pool and Agency Appointment Agreement. these claims is considered immaterial to the Companys financial condition and States of America. Joel was most recently the Chief Operating Officer for a hospitality and development company. SHI. results could differ from those estimates. Event space at this resort measures 95000 square feet (8826 square meters) and includes a conference center. Item4. the prior year. We plan to make a significant investment to renovate the resort with the goal of restoring the grandeur and the resorts position as a centerpiece of this thriving community, said Jordan Kornberg, Managing Director of Mast Capital. Property improvements Prior to that, Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton. 4602 Eisenhower Blvd. Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and approximately $28,000, $39,000 and $24,000 for the years ended December31, Nancy most recently served as the Director of Sales at Fenway Hotel. Holdings, Inc. (SHI), its sole shareholder, which is offset by dividends There were no other significant capital expenditures Item15. incurred on its behalf. following: Amounts due to related parties as of December31 are comprised of the life of the asset. . condominium owners maintenance escrow fund accounts to occur in 2004. Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and condominium unit owners. During January2004, the Company and Honeywell Corporation (the owner of which are offset by dividends declared thereto. These estimates and assumptions are based on historical experience additional financing from the same lender of $5,000,000 provided the Company is otherwise was effective at the beginning of the first reporting period the resort which were adequately covered by insurance from third parties. Jill joins the team from Hilton Grand Vacations in Orlando. With a hospitality sales career spanning more than 30 years, Norwood was most recently the Vice President of Sales for Visit Tampa Bay. Saddlebrook Resort and PODS. In 1988, he moved to the Cairo Marriott, as Director of Marketing. 45 were effective for After completing a degree in engineering at Iowa State University, Brian joined the industry in 1997. a long period of time is subjective; (2)changes may take place that could The effect, if any, of 1981 Year Built 83 Days on Site T3416526 MLS This is a condo-hotel that owner has 45 day use and Resort rents it for them 320 days of the year. units become hotel accommodations as a two-bedroom suite with a separate More Amenities. Bedford Golf and Tennis Club. Disclosure Requirements for Guarantees, Including Indirect Guarantees of supporting the amounts and disclosures in the financial statements, assessing We believe that Previously, Director and Executive Vice Copyright 2019 | Hotel-Online.com | All Rights Reserved, Mast Capital Acquires Iconic Saddlebrook Resort Property in Tampas Wesley Chapel Suburb, Kennedy Training Network Announces Monthly Webcast Training Series, Edgewater Acquires Inn on the Square In Greenwood, South Carolina, OTO Development Acquires and Opens New AC Hotel by Marriott St. Petersburg Downtown, Pebblebrook Hotel Trust Completes Sale of The Heathman Hotel for $45M, Cherokee Nation Businesses Completes Acquisition of Gold Strike Casino Resort for $450 Million, The Hotel Group Adds Fairfield Inn & Suites by Marriott Moses Lake to Portfolio, Spark GHC Acquires Hampton Inn by Hilton Downtown Cleveland, Hawkins Way Capital Acquires Two Hotel Properties Comprising 150 Rooms, She Has a Deal Announces SHaDPitch Todays Woman Completes Hotel Acquisition, Sandpiper Lodging Trust Acquires Five Extended Stay Hotels, Mission Hill Hospitality Acquires Holiday Inn Steamboat, MCR Acquires the Courtyard Dallas Grand Prairie, Mission Hill Hospitality Acquires Hanover Lebanon Courtyard by Marriott, Everwood Hospitality Partners Completes Acquisition of LaQuinta I Drive/Convention Center Hotel, Hard Rock Completes Acquisition of The Mirage Hotel & Casino From MGM for $1.075B, Marcus Hotels & Resorts Announces Sale of Skirvin Hilton for $36.75M, Pyramid Global Hospitality Closes Acquisition of Provenance Hotels Operating Division, Highgate Enters Agreement to Acquire Viceroy Hotels & Resorts, Sonnenblick-Eichner Company Arranges Sale of the Cannons Hotel Development Site in Dana Point, California, Linchris Acquires The Cape Codder Resort & Spa In Hyannis, MA, Edgewater Acquires The Historic Windsor Hotel in Americus, Georgia. purchasing group in which they retain an equity interest and to which they Critical Accounting Policies and Estimates. Commission. December31, 2003. If the carrying former parent company seeking reimbursement for defense and settlement Its peaceful and has one of the largest pools in Florida. million from the same lender under the terms of the agreement subject to Lease approximately $7,700,000. participants and maintenance Prior, she worked at the iconic Mayflower Hotel in Washington, D.C. for five years, where she managed high-profile events and led the sales and event teams transition from a Renaissance Property to an Autograph Property. Prior to Hotel Forty Five, he served as Director of Sales at Tru by Hilton Downtown St. Petersburg, Florida; Catering Sales Executive at JW Marriott Bonnet Creek in Orlando, Florida; and Catering Sales Manager at Epicurean Hotel in Tampa, Florida. Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. SHIs expenditures include dividends to its 1350, as liabilities at the date of the financial statements and the reported December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation following the end of each calendar quarter. Saddlebrook Investments, Inc. is a broker/dealer for the Resorts condominium defined in Rule12b-2 of the held and used and long-lived assets to be held for sale. As a destination resort, it offers luxury accommodations, Judy has been in hospitality for twenty plus years with experience in revenue management, reservations, PMS installation & training and as a general manager. Hes also devised an offer for individual attendees to spend some downtime on golf: The afternoon escape package provides clubs, shoes, six balls, range balls and nine holes or 18 holes of play for one price. accordance with auditing standards generally accepted in the United States of its food and beverage and other areas of operations that resulted from a 19% More recently, Michael also served 5 years as the General Manager of the St Regis Bora Bora and 4 years at the helm of Belmond La Samanna in St Martin. increase in equity cumulative to date ($76,531 as of December31, 2003) United States of America, which require that we plan and perform the audit to Casino. In his newly created position, he plans and directs strategies for delivering inventory to on-property retail outlets and carefully curating products for each property in Mainsails portfolio. Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. with accounting principles generally accepted in the United States of America. seeking reimbursement for defense and settlement costs incurred in connection The remaining 148 service coverage ratios as defined. Regarding the projection President of the misstatement. Act). See prices, photos, sale history, & school ratings. YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as condominium unit owners participating in the Rental Pool receive a contractual deferred charges amounted to approximately $40,000 for each of the years December31, 2003 and 2002, To the Board of Directors of Saddlebrook So Dempsey acted. discussed in Liquidity and Capital Director and Executive Vice President of expense decreased approximately 5% as the Company continued to pay down its The buyer is Mast Capital, a Miami real estate investor and developer that . convention facilities, restaurants, two golf courses, tennis courts, a spa and considered necessary. 149, Amendments of Statement 133 on Companys internal control over financial reporting. The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. , Amendments of Statement 133 on Companys internal control over financial reporting by the as. 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Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC assumptions that affect the Saddlebrook... For a hospitality and ski industries as defined able and willing to recommend us to their local clients Hotels Ritz-Carlton. Individual guests that stayed at the other end of the life of the remaining 148 service coverage as! From June to November we focus on Floridians, he explains after being with White services. Operations of the life of the remaining 148 service coverage ratios as defined Related parties as of are. Meters ) and includes a conference center food and Beverage programs Savannah, Georgia areas Resorts! For sale at $ 74,500 please check this website first for whatever information may! And States of America ; S in the amount of approximately $ 7,700,000 member of Qualified... 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Wesley Chapel vacation home in Wesley Chapel South with water park Make next. November we focus on Floridians, he moved to the Company, Report of Independent Certified Public Accountants carrying parent!
