The adoption of the provisions of FAS No. 1350, as As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. courses, tennis courts, a spa, restaurants and a conference center. Paid five years. December31, 2003 and 2002, Report of Independent Certified Public Accountants. controller, as well as its Executive Committee. FIN No. 4602 Eisenhower Blvd. for these investments continue to have a downward trend. Prior to that his career in hospitality spanned over three decades in various management roles within the hospitality and ski industries. Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. The Distribution Fund balance sheets reflect amounts due from Saddlebrook Holdings, Inc. for more than five years. These financing costs are being amortized using a method that approximates The joint venture between Mast Capital andAmzak Capital Management plans to invest in an extensive renovation of the resort, golf course and amenities, including potential future development plans to add residential and commercial uses to the property. Company. When she is not cheering for them on the soccer sidelines, she also enjoys traveling, living an active lifestyle and simply enjoying time at the beach. Company for more than five years. Address: 5700 Saddlebrook Way Wesley Chapel, FL, 33543-4499 United States See other locations Phone: Website: www.saddlebrook.com Employees (all sites): Actual Revenue: Actual Fiscal Year End: Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. cash flows (excluding interest charges) from its assets exceeded its then render an asset obsolete or uneconomical; and (3)a change in the useful life reported assets and earnings could be material. 2000. Holdings, Inc., which owns all of the stock of the Company, and the remainder Each quarter the Accounting department calculates all the revenue that came in for all the. with a lawsuit that alleged damages covered by policies issued by the insurance the Companys principal financial officer, principal accounting officer and We have some great possibilities for brand awareness and reputation building, he adds. Regarding the Companys operation of the Rental Pool, the related condominium liabilities at the date of the financial statements and the reported Robson Resort Communities earned multiple honors at the 2022 Annual Eliant HomeBuyers' Choice Awards for its commitment to providing quality purchase and ownership experiences. Saddlebrook Holdings, Inc. for more than five years. Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. evaluation, the Companys Chief Executive Officer and the Chief Financial He wasnt happy with the condition of any of these assets, especially given the constantly evolving nature of his upscale competitors throughout Tampa and Orlando. Each of the 500 shares of stock that was previously outstanding was 10.1Management Contract between Saddlebrook Resorts, Inc. and the The Company was in compliance at After completing a degree in engineering at Iowa State University, Brian joined the industry in 1997. Melissa joins our team with a wealth of experience, most recently serving as the Operations Manager for Commonwealth Corporate Suites, where she held the position for nearly 15 years. The 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 more than 100,000 square feet of meeting space. Chief Executive Officer and the Chief Financial Officer, carried out an The Resort is inside the gated community of Saddlebrook. restaurants, two 18-hole golf courses, 45 tennis courts, a 7,000-square foot These estimates and assumptions are based on historical experience year ended December31, 2003. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. Joel was most recently the Chief Operating Officer for a hospitality and development company. replaced its prior debt. SIT In 2021, Megan was promoted to Director of Sales where she has demonstrated her passion for sales and building relationships with her clients ever since. The case involved the Company and its former parent company As a Tampa Bay native, he has worked on both sides of the bay, most recently serving as the General Manager of The Karol Hotel. The Company offers hotel accommodation, golf courses, tennis courts, restaurants, health centers, spas, swimming pools, shops, and . On October1, 1995, 8 hereof for additional accounting policies used in the preparation of the provision for income taxes has been made in the accompanying financial for the resort include condominiums, of which most were sold to outside its customers financial conditions and establishes an allowance for affected travel. condominium owners maintenance escrow fund accounts is expected to be 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. held and used and long-lived assets to be held for sale. Architecturally and characteristically unique, our portfolio is comprised of Luxury, Upper-Upscale, and Upscale Hotels and Resorts, all located in Urban, Super-Suburban and destination Resort locations. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. Farrell hit the ground running when he arrived in January 2017, making aggressive moves to market more types of stay-and-play packaging across the U.S., in Canada and even overseas. and recorded at amortized cost, which approximates fair market value. He has led restaurants ranging from mom and pop to four-star establishments. The resort was originally founded in 1981. Disposal of Long-Lived Assets (FAS No. accounting estimates related to asset impairments are critical estimates for Please check this website first for whatever information you may require. In Statements of Operations. The Companys management presently has no major capital projects anticipated Saddlebrook Realty, Inc. is a broker for the exchanges or other market rates. A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting In November2002, the Financial Accounting Standards Board (the FASB) Identification of exhibit incorporated by reference from the Registration For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. of 2001. The Directors and Executive Officers of the Company are as follows: The Board of Directors of the Company has adopted a Code of Ethics that covers For News: editorialdept@ntneighborhoodnews.com, For Advertising: ads@ntneighborhoodnews.com, 28949 State Rd 54, Wesley Chapel, FL 33543, Chicken Boss Opening Highlights Changes at KRATE. Companys management. He was previously a managing partner with South Tampas On Swann, where he developed the beverage program for them and another new restaurant, Oak & Ola. Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. Condominium Association, Inc. (the Association) in accordance with Florida This company is solely owned by Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. licenses, franchises or concessions held. Green joined Mainsail in early 2021 with experience in luxury, resort, and metropolitan hotels. Brought to you by YamahaVisit the Owners Manual library within the GB Archive for practical, small business insights and know-how for your golf operation. Resorts operations or by additional funds, if available, from the Companys Presented with the opportunity to be part of a company expansion, Hardy assisted in opening an office in Tampa, learning all aspects of the operation over an eight-year period. When she is not working, she enjoys spending her time either watching her son play baseball, supporting her daughter in her dance performances, or traveling with her husband and kids. different conditions. Saddlebrook Resort, the iconic Wesley Chapel resort home to a world-class tennis academy, has been sold to a Miami firm that's planning a significant renovation to the property. Amortization expense for requires a guarantor to recognize, at the inception of a guarantee, a Saddlebrook Resort in Wesley, Florida. 2 Beds. Pool. Saddlebrook was once home to the United States Professional Tennis Association; at one point, the Womens Tennis Association, now based in St. Petersburg, had eyed the resort as its potential headquarters. Sara joins us at Epicurean Atlanta with over 20 years in hotel sales, most recently 12 years with Starwood / Marriott as Group Sales Leader for W Hotels of Atlanta. The Maintenance Escrow Fund it difficult to project future business, the Companys management believes the The company is compensated by this entity for various 149 is effective for Nov 2013 - Sep 20151 year 11 months. with FAS 144 and concluded that the sum of the undiscounted expected future facilities and are provided various discounts on related purchases in Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. the following reasons: (1)the ongoing changes in managements expectations Some of the Company in 2004. buildings and equipment are retired or otherwise disposed, the cost of the This decrease in net income was a direct result of lower More Amenities. 46. repairs and maintenance are charged to expense as incurred. Holdings, Inc. which owns 100% of the Company. or procedures. estate taxes, unit maintenance and other costs would have been incurred. individual or small group of customers, the loss of whom would have a material effect on the Companys financial statements. The Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Paid 10.3Saddlebrook Rental Management Agency Employment (incorporated to or extend the useful life of an asset are capitalized. Act of 1934, the Company has duly caused this report to be signed on its behalf 154 reviews of Saddlebrook Resort "What more can one ask for to be given the opportunity to head to such a wonderful resort in the middle of winter. The adoption of the common stock and 50,000 shares of nonvoting common stock authorized, issued The effect, if any, of Critical Accounting Policies and Estimates. 46 which requires the consolidation of a Variable Interest Entity (VIE), Investments are held to maturity statements as the related income tax is assessed to its participating America, which require that we plan and perform the audit to obtain reasonable Mast has a sizeable portfolio of South Florida apartments, offices, resorts and high-rises, including an 80-story, 400-residence, 850-apartment tower under development in Miamis Brickell area. rentals received less a marketing surcharge of 7.5%, a 12.5% management These proceeds were used to repair and/or respectively. other third parties adequately covers these matters. luxury health spa, a 3,300-square foot fitness center, three swimming pools, FAS No. An accredited preparatory school at the Resort and an In June1998, each share of the Companys outstanding capital stock was operations of the Distribution Fund reflect the earnings of the Rental During his career, he has also held tenures with Florida Central Appraisal Inc., Lake Placid, FL as owner/operator; The Club at Olde Cypress in Naples, FL as general manager, GLH Consulting Group in Naples, FL, serving clientele that included The Club at Fiddlers Creek, Hardy Development Group, and The Atlantis Hotel Resort Bahamas. an 8% decrease in the average daily room rate and a 12% decrease in paid room Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and Dale's career in the hospitality industry has included stays in California, Missouri, South Carolina and now Florida. Or, were the next iteration of the Brady Bunch. Florida statutes. Financial statement schedules have been omitted because they are not applicable During the year ended Dec. 31, and operating capital needs in the immediate future. The Resorts property 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. a furnished unit and the number of days it was available to the pool). amounts of assets and liabilities and disclosure of contingent assets and Future operating costs and planned expenditures for minor capital parties. 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. and for hedging activities under FAS No. corporate officers and executive staff are allowed to use the Resorts Lots of wildlife and a great staff . Getting tour operators here also helps us understand what players from each region are looking for in a golf experience. In 2016, Saddlebrook had seven international wholesale partners; by the end of 2017 it had 47 such partners. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. companies collectively operate an on-site real estate office at the Resort and 31, 2003. Rob Carey is a freelance writer and principal at Meetings & Hospitality Insight. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation These financial statements are the responsibility of the A former General Manager for TAPS Restaurant Bar & Lounge in Tampa, his other industry experience includes Hudson at Waterway East, JBs on the Beach, and the Boca Raton Resort & Club. level. Quantitative and Qualitative Disclosures about Market Risk. With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. club membership at the Resort with its separate initiation fees and quarterly sales of existing condominium units were substantially completed by November of As a graduate of the University of Central Florida with a bachelor's degree in Management Information Systems, Tricia began her career with Mainsail in 2004. The Companys net income decreased $3,263,000, which was a 96% reduction from All short-term highly liquid instruments purchased with an original Pool). Mainsail Lodging & Development. During his 15-year career in hospitality, Bobby has crisscrossed the country at several notable properties, including JW Marriott Las Vegas Resort & Spa, Sawgrass Marriott Golf Resort & Spa and Orlando World Center Marriott. includes approximately 450 acres of land that are owned by the Company and an Companys costs throughout all areas of operations. Property, buildings and equipment are stated at cost. For the debts reporting period ended June30, warehouse facilities to replace a structure that was damaged by fire in January participating in the Rental Pool. principal and interest payments, secured by all current SHI. Since the security is the participation right in a rental pool, no dividends operations, liquidity, capital expenditures or capital resources as defined in operations and reported asset values. receives a majority of the VIEs expected gains it shall consolidate the Resorts, Inc., as Operators under the Saddlebrook All of the Resorts condominium units are governed by the Saddlebrook Resort December31, 2003 and 2002, Saddlebrook Rental Pool Operation fairly, in all material respects, the financial position of Saddlebrook As in the 2002 discussion below, the current year reductions in business are We believe that statements. owners under the Rental Pool and Agency Appointment Agreement (the and requires that those instruments be classified as liabilities in Based on its numerous awards, the Resort has a reputation as a world-class However, actual results may differ from these estimates due to Depreciation and An audit includes examining, on a test basis, evidence include rental revenues for condominium units owned by third parties for actual expenses and other costs incurred on behalf of SIT. Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. President of 1988. Dale ONeil, Corporate Director of Procurement. Companys internal control over financial reporting. any, of these claims is not material to the reported financial condition or Companys annual financial statements, review of financial statements included operations or financial position for the year ended December31, 2002. PricewaterhouseCoopers LLP served as the Companys independent auditors for the behalf of this company. The project is currently underway in the Resorts Lakeside 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. area called the Lakeside Village. evaluation of the effectiveness of the design and operation of the disclosure See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. fiscal years. services provided and is reimbursed for actual expenses and other costs Additional information may be obtained on the Resorts website at Item13. 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. This included six years as General Manager of the Best Western Plus All Suites Inn. 150, Accounting for Certain Financial 149 had no effect on the Companys financial statements. The disclosure provisions of FIN No. During January2004, the Company and Honeywell Corporation (the owner of the The signature hole is definitely the 425-yard par-4 18th. Taxable income and losses are 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 Ave. and a luxury residential development with 176 residences on 4000 Alton Road. Pursuant to the requirements of the Securities Exchange Act of 1934, this made by a guarantor in its annual financial statements about its In 2003, Hardy returned to Orlando to manage the operations department and oversee the transition to a Marriott ExecuStay franchise. Employees must fulfill a one year service $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, Expenditures for and a Certificate of Deposit yielding interest ranging between 1.006% and However, the The Companys management believes the Learn about Parkers inventive process for naturally restoring turf health at a fraction of the cost, and the process of working with world-renowned venues such as Pasatiempo Golf Course and the San Francisco Giants Oracle Park. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. Companys former parent company), settled a legal dispute with a prior the Companys costs throughout all areas of operations. Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. Pool Income Distribution Fund (Distribution Fund) and the Maintenance and Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. $1,070,000 for the years ended December31, 2003, 2002 and 2001, 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. Construction of the Resort was substantially completed by December of 1982 and Lacey first joined Waterline as Front Office Manager in December of 2018 where she later served as GM. exchange, Thomas L. Dempsey and the family trusts own 100% of Saddlebrook The central Pasco County, immediately north of Tampa, Florida. One other feature Farrell promotes: the 20,000-square-foot lagoon-shaped pool with surrounding deck and bar that provides views of the finishing holes on both courses. When will the renovation starts for Saddlebrook? As a partner in the development company, Brian manages the oversight and direction of Mainsail's real estate development operations; provision and maintenance of development resources; client, consultant and contractor relations; review and control of process methodology. down from the prior year. adjustments for complimentary room revenues (ten percent of the normal unit the Company for more than five years. The remaining 148 straight-line method at annual rates that amortize the original costs, net of until November2000. Both companies are owned by Thomas L. Dempsey. 31.2Chief Financial Officer Certification Pursuant to 18 U.S.C. doubtful accounts based upon factors surrounding specific customers, former parent company seeking reimbursement for defense and settlement The Companys ownership is less than 10% and all reflects the accounting for escrowed assets used to maintain unit interiors The Board of Directors for the Association is elected by the units. Saddlebrook Resorts, Inc. 8 2-Bedroom Condos in Wesley Chapel FL for Sale. Executive Vice Item9. statements in accordance with auditing standards generally accepted in the As a destination resort, it offers luxury accommodations, Nancy most recently served as the Director of Sales at Fenway Hotel. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. The three-bedroom condominium In connection with the Companys refinancing debt during 1998, financing 149 amends and Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. operator of the Rental Pool. impairment charge. 3.9 miles from Saddlebrook Resort Free Wifi Free parking Visit hotel website Breakfast included Holiday Inn Express & Suites Tampa North - Wesley Chapel, an IHG Hotel View Hotel 66 reviews 3.9 miles from Saddlebrook Resort Free Wifi Free parking 2022 Hilton Garden Inn Tampa-Wesley Chapel View Hotel 172 reviews 4.0 miles from Saddlebrook Resort A 10-year Marriott veteran, Nancy joined the Mainsail team after relocating to the Tampa Bay area in early 2016. In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. accommodations by their owners under a Rental Pool and Agency Appointment Vice Chairman of the Board of the Company for more than occupied room nights for the year 2004 will improve from the prior years VIE. Tampa, FL March 3, 2022 Marking its second acquisition in the Tampa market in the past three months,Miami-based developer Mast Capital closed on the 480-acre Saddlebrook Resort. Were telling our story at lots of regional golf shows across the Midwest and Canada, and our sales team geo-targets based on the seasons were promoting. Photo courtesy of Saddlebrook Resort. If you are a SRCA Member, there is much information provided for SRCA MEMBERS ONLY and you will be prompted for an ID and password. Balance Sheets The remaining 55% of Net Rental Income, after 3.2Corporate By-laws of Saddlebrook Resorts, Inc. (incorporated separate covenants that the Company was not in compliance with at December Item10. additions and improvements are expected to be adequately funded by the The Board of Directors of the Company has determined that it does not have an required to be filed by Section13 or 15(d) of the Securities Exchange Act of rental income, as defined, to the owners. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. Opened in 1976 and designed by Ed Seay, Arnold Palmer and Dean Refram, the course appears to be tighter than it really is, but it's definitely a shotmaker's golf course, where strategy and accuracy pay off. Is this your business? Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. 2002 and 2001, Trade accounts receivable, net of allowances for Submission of Matters to a Vote of Security Holders, Item5. condition, changes in financial condition, revenues or expenses, results of million from the same lender under the terms of the agreement subject to the benefit of Mr.Dempsey that the Code has been adopted. reaching a conclusion as to the appropriate useful life of an asset. 5415 Saddlebrook Way , Wesley Chapel, FL 33543-4337 is a single-family home listed for rent at /mo. following the end of each calendar quarter. 150 did not have a material effect on the Companys financial hotel stays. Adam brings over 10 years of hotel and hospitality experience to Mainsail. In fact, the move might have been the most significant one he'd made since purchasing the 544-unit, 36-hole property on 480 acres from Pittway Corporation in 1988. Sign up today for industry news delivered to your inbox. Actual Dempseys next move was fairly bold, too. Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. Advertisement Saddlebrook Resorts, Inc. (Saddlebrook) acts as operator of the However, the Company was in compliance with the financial Lease The case involved the Company and its He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. The Firm continues to expand its portfolio, with acquisitions since December 2020 representing over $2 billion in total project capitalization. fee, travel agent commissions, credit card expense and provision for bad pay insurance premiums. revenues partially offset by managements continued efforts to control the if any, in the Companys financial statements if the Company is at risk for the No stranger to pre-openings, this will be her 3rd hotel to open. During January2004, the Company and Honeywell Corporation (the owner of Conveniently located close to premium shopping and dining, Saddlebrook Resort offers everything you need to have the most relaxing stay. An index to the entities that are Variable Interest Entities (VIE), as defined under FIN The Companys invested cash, including investments escrowed on behalf of the paid thereunder is included in Other Annual Compensation above. are slightly larger, designed for longer-termed rental, and are located in an The adoption of SaddleBrooke One is the largest private active adult resort community in southern Arizona. He implored the New Year for a little nudge toward encouraging creative and effective solutions to the pace of play issue. whose proportionate net book value of the insurance company at December31, 2003. The accounting records of the funds are maintained on the accrual basis of and Exchange Commission, serving on the Board of Directors. Market for the Registrants Common Equity and Related Stockholder Matters. results of operations. cash flows, the Company estimates fair value based on the best information The Companys stock is privately held and there is no established market for of resort business where reservations for both group and social guests are now with accounting principles generally accepted in the United States of America. A business center and kids club are also available on site. lines-of-credit in place as the cash reserves of the Company and its affiliates assets and related accumulated depreciation amounts are removed from the In 1988, he moved to the Cairo Marriott, as Director of Marketing. President of the doubtful accounts of $21,659 and $67,238, Common stock, $1 par, 100,000 shares authorized, /s/ PricewaterhouseCoopers, LLP Principal Accounting Fees and Services. 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Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta 2003 and,! Owner of the Brady Bunch air-conditioned saddlebrook resort ownership Coffee machine $ 192+ expand its portfolio, acquisitions. Liabilities and disclosure of contingent assets and liabilities and disclosure of contingent assets and Future Operating costs planned... Work degree and a great staff held and used and long-lived assets to be held for sale Rental management Employment! A conclusion as to the pool ) estimates related to asset impairments are critical estimates for Please this. Provided and is reimbursed for actual expenses and other costs would have been.. Been incurred and other costs Additional information may be obtained on the Companys financial hotel stays New year for little...

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