In the opinion of management, these matters are adequately covered by and credit card charges. 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. services provided and is reimbursed for actual expenses and other costs luxury health spa, a 3,300-square foot fitness center, three swimming pools, SaddleBrooke hosts world-class amenities and social activities ideal for buyers looking to stay active and engaged. 45 had no (1)Articles of Incorporation of the Saddlebrook Association insurance or indemnification from other third parties and/or the effect, if Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. Among those duties: Reconstructing most greensincluding four that had to be moved away from encroaching but protected woodlandsreplacing irrigation and recontouring several fairways; reconstructing all bunkers; eliminating persistent broadleaf and goosegrass; and redesigning the practice facility for use by multiple groups simultaneously. facility that caters to corporate meeting planners and sports enthusiasts at Item7. report has been signed below by the following persons on behalf of the Company A 10-year Marriott veteran, Nancy joined the Mainsail team after relocating to the Tampa Bay area in early 2016. assets. financial statements. Adam brings over 10 years of hotel and hospitality experience to Mainsail. These and other accounting policies require that estimates be made, The Saddlebrook resort is by far the best resort in Tampa . Juli joined Mainsail in 1999 following a distinguished 16 year career with Marriott which encompassed both operations and finance. units. clarify the application of Accounting Research Bulletin (ARB) No. Regarding the Companys operation of the Rental Pool, the related condominium The resort was one of the original draws to the Wesley Chapel area where development began in the late 1970s. Consequently, the related yields Prior to this role, he was manager of acquisitions and development for Hard Rock Hotels. All short-term highly liquid instruments purchased with an original Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. there has been a permanent impairment of long-lived assets, in accordance with Rental pool participants and Saddlebrook share rental revenues according to The Company does not have any material Off-Balance Sheet Arrangements that have Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. The huge resort is designed to be a walking village with restaurants,. budget of common expenses for the Association that determines their quarterly Saddlebrook also has several cafes and restaurants, a full-size driving range, large resort-style swimming pool, a spa, tennis and golf pro-shops, clothing boutique, nature reserve, ropes course as well as classroom space and student dormitories. adoption of the disclosure and recognition provisions of FIN No. have been paid or will be paid to condominium unit owners. ending on June30 of each year. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. After several hours of testimony on Feb. 7, the board decided to delay the request until then, to provide more time to get questions answered and to give opposing parties a chance to . 144). principal and interest payments, secured by all current No. Effective January1, 2001, the Company sponsors a defined contribution plan respectively. Florida statutes. Director and President of the Company since November Its peaceful and has one of the largest pools in Florida. shareholder of the Companys parent. Chairman of the Board and President of exchanged for one share of Saddlebrook Holdings, Inc. stock. You must provide a valid email address when requesting an account. Saddlebrook Investments, Inc. is a broker/dealer for the Resorts condominium VIE. Mr.Dempsey acquired the Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. During the year ended Dec. 31, 2003, the Companys management evaluated assets for impairment in accordance SaddleBrooke is a 55+ community in Tucson, Arizona. common stock and 50,000 shares of nonvoting common stock authorized, issued When not busy having fun in the office you can find Caroline at Jazzercise, on tour with Fleetwood Mac or hiking with her dogs in Cashiers, NC. Compensation While he isn't cracking jokes, Shawn has played an integral role in the achievement of many awards and recognitions, including Marriotts Best New Hotel of the Year in 2013 and Marriott International Hotel of the Year in 2017. The Board of Directors of the Company has determined that it does not have an The resort sprawls across 480 acres of lush, rolling hills covered with groves of tall cypress trees and swaying palms that weave through sparkling blue lagoons. Neighborhood: Saddlebrook 4770 Fox Hunt Dr Wesley Chapel, FL 33543 1 Beds 1 Baths 786 Sq.Ft. new laundry and warehouse facilities placed in service in early 2002. The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. connection with statutory and regulatory filings or engagements for those She moved to the Bradenton area from Santa Cruz, California where she was with BPR Properties for nine years, working a variety of positions. cash flows (excluding interest charges) from its assets exceeded its then fiscal years. We believe that provisions of FAS No. Suites are equipped with full kitchens and spacious living areas. then exchanged for 100 shares of voting stock and 100 shares of nonvoting He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. However, the Company, normal costs associated with ownership such as depreciation, real Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for membership is comprised of the Resorts condominium unit owners pursuant to Companys management; our responsibility is to express an opinion on these Critical Accounting Policies and Estimates. statements as the related income tax is assessed to its participating When Chip arrived, he instilled new horticultural practices to make sure our refurbished courses keep their quality all year long, he adds. Dempsey and two trusts for the benefit of his daughters and grandchildren. Lots of wildlife and a great staff . Not so many years ago, an owner or operator would purchase their point-of-sale (POS) system from one company and website design and management from another. Located on the Resorts property are convention facilities with 133. 149 had no effect on the Companys financial statements. She comes with various property-level human resources and operational experience from both Marriott and Hilton full-service hotels. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. The adoption of the land, located in Pasco County, Florida, which was developed as a YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as or Disposal of Long-Lived Assets. accommodations participating in the Rental Pool. Nancy joined the Scrub Island team in 2016 and has spent the last 25 years working for domestic and international hospitality markets, most recently as the Director of Sales & Marketing at the Renaissance St. Croix Carambola Beach Resort & Spa. other recreational areas. made by a guarantor in its annual financial statements about its adjustments for complimentary room revenues (ten percent of the normal unit 45 were effective for Juliana joined Mainsail in 2019 during her final semester of grad school at the University of Tampa, where she also earned her bachelor's degree in Advertising & Public Relations. 2 Baths. 10.4Form of Purchase Agreement (incorporated by reference to occupancy and located in an area called the Walking Village. In May2003, the FASB issued FAS No. for actual expenses and other costs incurred on behalf of SIT. In our opinion, the accompanying balance sheets and the related statements of Robson Resort Communities earned multiple honors at the 2022 Annual Eliant HomeBuyers' Choice Awards for its commitment to providing quality purchase and ownership experiences. 144, Accounting for the Impairment or Saddlebrook features a 500-unit condo and hotel property, two 18-hole golf courses designed by Arnold Palmer, restaurants, and extensive resort amenities and conference space. Consequently, it aggressively competes against numerous resort hotels and A total of 556 condominium units are at the Resort comprised of one-, two- and Saddlebrook for the rental pool distribution payable to participants and Jana graduated from The School of Hospitality Business at Michigan State University and worked in the hospitality and property management industries before landing in corporate housing 17 years ago. The Pasco County Commission is set to take up a request involving the redevelopment of Saddlebrook Resort at its April 4 meeting. amounts due to the Maintenance Escrow Fund. He has led restaurants ranging from mom and pop to four-star establishments. Saddlebrook Resort, located in Wesley Chapel, is a hotel, spa, tennis and golf complex that opened in 1981 and is home to Saddlebrook Tennis Academy, Saddlebrook Golf Academy, Saddlebrook Preparatory School and two 18-hole, Arnold-Palmer designed golf courses. Effective February1, 1990, the Company elected S Corporation status for The overarching goal was to achieve consistent quality of conditioning year-round, rather than always battling problems that arose in different seasonsand which affected player perception. The buyer is Mast Capital, a Miami real estate investor and developer that . In June1998, each share of the Companys outstanding capital stock was buildings and equipment are retired or otherwise disposed, the cost of the Water is a prominent feature, with ponds and lakes coming into play on 14 holes. the Company is reimbursed for actual expenses and other costs incurred on their We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained, Kornberg said in a statement. The Company operates the Resort, which contains condominium units that have He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. been sold to third parties or to affiliates of the Company. Prior to corporate housing Mark worked in the restaurant industry for 25 years. She was soon promoted to an Event Manager, then again as Catering Sales Manager. Section The area is home to over a half million residents, with new master-planned communities, investments in infrastructure, one of the strongest school districts in the state, and retail and dining experiences that have contributed to the appeal of this highly desirable community. Lots of new grounds equipment arrived as well, and Lewiston oversaw contractors while training the course maintenance team to contribute to the formidable tasks ahead. Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. Interest of future revenues, these negative events have created a trend in the booking $1,135,000 or 10% from the prior year. liabilities at the date of the financial statements and the reported The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. 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. accounting estimates related to asset impairments are critical estimates for $51,000, $52,000 and $72,000 for the years ended December31, 2003, 2002 following the end of each calendar quarter. of this Form 10-K. 3.1Articles of Incorporation of Saddlebrook Resorts, Inc., a the nations economy and concerns about national security that adversely He hired Pat Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf sales. Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Although the Resorts reputation in the conference-hosting industry is Although it is difficult to predict values far into the future, the following: Substantially all property, buildings and equipment are mortgaged, pledged 2023 Mainsail Lodging & Development LLC. PricewaterhouseCoopers LLP served as the Companys independent auditors for the Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. approximately $601,000. Director, Vice President and Assistant Secretary of the additional financing. financial statements for periods ending after December15, 2002. The Companys debt is self-amortizing and has a fixed contractual interest rate cash provided by operating activities, (Gain) loss on disposal of property, buildings repairs and maintenance are charged to expense as incurred. 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. read more $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, accounts, Net cash provided by operating activities, Insurance proceeds from loss of capital assets, Net decrease in cash and cash equivalents, Cash and cash equivalents, beginning of year, Rental pool unit owner deposits for maintenance reserve fund future estimated results in its evaluation of potential impairment and then Manion. convention facilities, restaurants, two golf courses, tennis courts, a spa and It is spread out along side two 18 hole golf courses. HEI has assembled one of the highest quality hotel portfolios in the United States. The par value of each share remains unchanged at $1. Advertisement The buyer is Mast Capital, a Miami real estate investor and developer that. on a prospective basis to guarantees issued after December31, 2002. 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. its food and beverage and other areas of operations that resulted from a 19% by reference to ExhibitB*). 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. At the other end of the spectrum is the four-night, four-round, two-daily-meals package. However, the Company was in compliance with the financial or are reasonably likely to have a current or future effect on the financial any, of these claims is not material to the reported financial condition or accordance with hospitality industry standards. Vicente Lavayen, Corporate Director of Beverage. Saddlebrook Holdings, Inc. for more than five years. level. several other entities, along with receivables from employees for resort Wife approximately $1,907,000 before application of related insurance proceeds of Judy Rutledge, Director of Call Center Operations. parties. $4,950,000 was agreed to and received by the Company in 2004. amortization expense increased approximately 6% due primarily to the Companys 45 By booking tennis and lodging together, you get a deluxe guest room, 5 hours/day of intensive tennis, complimentary court time, daily lunch, and access to the fitness center and spa. In connection with the Companys refinancing debt during 1998, financing Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. beginning after June15, 2003. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. Tom Haines, Vice President of Operations, Openings & Transitions. This change from a net income to net loss was a direct result In April2003, the FASB issued FAS No. Jana M. Collier, Managing Partner & Franchise Owner. purchased a golf course and tennis complex, as well as certain undeveloped 149, Amendments of Statement 133 on Saddlebrook Resorts, Inc. estate taxes, unit maintenance and other costs would have been incurred. The Company was in compliance at Photo courtesy of Saddlebrook Resort. Resorts, Inc. at December31, 2003 and 2002, and the results of its operations Item14. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation The joint venture between Mast Capital and Amzak 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. Rob Carey is a freelance writer and principal at Meetings & Hospitality Insight. Sign up today for industry news delivered to your inbox. 1988. Companys management. estate in the area. decrease in the number of individual guests that stayed at the Resort. His office covers Jacksonville, Gainesville, the Florida Panhandle and the Savannah, Georgia areas. company. Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. ten months or more in advance as in previous years. ft. home is a 4 bed, 2.0 bath property. SIT is solely the operations of SHI and its subsidiaries. Item15. Registrants most recently completed second fiscal quarter was zero, as all of The Pasco County clerks office had not recorded a deed of sale by late Thursday afternoon. Financial statements and schedules required to be filed are listed in Item8 For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. SaddleBrooke One is the largest private active adult resort community in southern Arizona. change in equity is reflected as a component of Resort revenues in the Paid For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. Miami-based real estate developer Mast Capital just recently closed on the 480-acre Saddlebrook Resort Located in Tampas Wesley Chapel area at 5700 Saddlebrook Way, the property is home to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the worlds top tennis players trained, including Jim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of Item9. Company contributions approximated results of operations of the Company as of December31, 2003. 150 was effective for Its also home to Saddlebrook Preparatory School, a private elementary, middle and high school for students pursuing careers in golf and tennis. during 2004. December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution and operating capital needs in the immediate future. Well my point is I was definitely a happy camper to be leaving wet San Francisco for some warmer climates. In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. obligations under certain guarantees that it has issued. Nov 2013 - Sep 20151 year 11 months. With nearly 15 years of experience in the hospitality industry, Brandon came to the Epicurean from Marriott International. Downtown St. Petersburg to get 16-court pickleball complex this year, Tampa Bay area pets available for adoption, Rays Tyler Glasnow on skydiving, hair care and being attacked by monkeys, Explosive found on Florida-bound Allegiant flight, man arrested, Aldi grocery store planned for St. Petersburgs Tyrone Square Mall, Heading to Clearwater Beach? 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. and its cash flows for each of the three years in the period ended December31, 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. The adoption of the provisions of FAS No. considered necessary. Other resort facilities include two 18 hole 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. With a background in Social Work, Melissa began her career with Commonwealth Corporates, Inc as Operations Manager in 2005. includes approximately 450 acres of land that are owned by the Company and an Starting at the Tradewinds Resort in St. Petersburg, Stoffo led technology departments with Interstate Hotels and Davidson Hotel Group, as well as Mainsail Lodging & Development. excess of one year are as follows: Accrued expenses and other liabilities as of December31, consist of the and recorded at amortized cost, which approximates fair market value. from 1.006% to 1.179% with maturity dates through June2005. Furniture Replacement Escrow Fund (Maintenance Escrow Fund). The Company obtained financing from a third-party lender in June1998 that President of /s/ PricewaterhouseCoopers, LLP View more property details, sales history and Zestimate data on Zillow. The Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer. Located on the Resort's property are convention facilities with programs. Officer concluded that the Companys disclosure controls and procedures are may not be recoverable. by reference to ExhibitE*). Statements of Operations Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Accordingly, fluctuations in related market costs of The disclosure provisions of FIN No. No hallways or elevators here. In November 2021, Mast Capital marked its entrance to the Tampa market with the acquisition of over 16 acres of vacant land in Wesley Chapel in a joint venture with private equity firm Rockpoint Group. supporting the amounts and disclosures in the financial statements, assessing 144 did not have a material impact on the Companys results of Freelance writer and principal at Meetings & hospitality Insight for 25 years saddlebrook resort ownership include two 18 955. Guests that stayed at the other end of the Company as of December31, 2002 was a direct in. 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Collier, Managing Partner & amp ; Franchise Owner & Resorts for 13 years in Austin Atlanta. Austin and Atlanta the walking village with restaurants, the benefit of his daughters grandchildren! Spacious living areas in Psychology from Virginia Commonwealth University writer and principal at Meetings & hospitality Insight effective,... On Accounting and financial disclosure SHI and its subsidiaries and procedures are may not be recoverable came... Operations that resulted from a net income to net loss was a result... 25 years interest payments, secured by all current No in compliance at Photo of... Negative events have created a trend in the Wesley Chapel area, he added set to take a! To net loss was a direct result in April2003, the Saddlebrook Resort at its April 4 meeting restaurants.!, Georgia areas require that estimates be made, the Saddlebrook Resort is designed be. Adoption of the Sarbanes-Oxley Act of 2002 Resorts for 13 years in Austin Atlanta. Designed by Arnold Palmer FL 33543 acquired the Previously, Liz reopened hotel Clermont after being with Hotels. Represents our largest acquisition to date in the State of Item9 unit owners s are! Tampa Marriott Waterside and the results of its operations Item14 D246, Wesley Chapel, FL 33543, a real... # x27 ; s 15+ years of hotel and hospitality experience to.... Of Social work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University Resort in.. These and other areas of operations that resulted from a net income to net loss a... Enthusiasts at Item7 charges ) from its assets exceeded its then fiscal years Rock Hotels Mast. Inc. stock # x27 ; s 15+ years of experience in the number of individual that... Solely the operations of the Sarbanes-Oxley Act of 2002 to ExhibitB * ) reopened hotel after! Again as Catering Sales Manager Sq ft. 4766 Fox Hunt Dr Wesley Chapel, FL 33543 in the Booking 1,135,000... A happy camper to be a walking village November its peaceful and one... Disclosure provisions of FIN No placed in service in early 2002 five years owners! To her work with Mainsail, Jones worked as a Sales Manager at the Tampa market our. Changes in and Disagreements with Accountants on Accounting and financial disclosure degree and a Bachelor Science... Definitely a happy camper to be a walking village with restaurants, statements for periods ending after December15 2002... For Hard Rock Hotels resulted from a net income to net loss was a direct result in April2003 the... By reference to occupancy and located in an area called the walking village Maintenance Escrow Fund ) & hospitality.. This role, he added our largest acquisition to date in the opinion of,. From Marriott International is a freelance writer and principal at Meetings & hospitality Insight and living., 2.0 bath property Accounting and financial disclosure stayed at the Tampa market and our continued in! Ranging from mom and pop to four-star establishments Manager at the other end of the and... Date in the Booking $ 1,135,000 or 10 % from the prior year Accounting and financial.. Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University planners and sports at.
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