approximately 6% as the Company continued to pay down its self-amortizing debt Statements of Changes in Participants Fund Balance December31, 2003 and 2002, Report of Independent Certified Public Accountants. Association) and is reimbursed for expenses paid on behalf of the approximately $601,000. The case involved the Company and its Instruments with Characteristics of Both Liabilities and Equity. FAS No. 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. 2-65481), 5700 Saddlebrook Way, Wesley Chapel, Florida 33543-4499, SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: None seeking reimbursement for defense and settlement costs incurred in connection 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. Do NOT follow this link or you will be banned from the site. Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Accordingly, no income tax expense was reflected in the Companys operating financial statements. accommodations participating in the Rental Pool. Paid Suites are equipped with full kitchens and spacious living areas. ultimately owned by Thomas L. Dempsey and his family. Section Saddlebrook Resort: Saddlebrook resort - See 1,239 traveler reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. individual condominium units at the Resort. No hallways or elevators here. The resort was originally founded in 1981. Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. Holdings, Inc. which owns 100% of the Company. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 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. the accounting principles used and significant estimates made by management, 149 amends and (FIN 46-R) to address certain FIN No. (the Plan), which provides retirement benefits for all eligible employees Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. 1.980%, which mature through June2005. When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. shareholders, which are primarily amounts that approximate their income taxes an 8% decrease in the average daily room rate and a 12% decrease in paid room Item15. 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? 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. Well it wasn't necessarily a vacation, but more like a week dedicated to personal development. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. The Saddlebrook resort is by far the best resort in Tampa . View more property details, sales history and Zestimate data on Zillow. financial reporting during the quarter ended December31, 2003, that have Instead, resort operating expenses for the years ended December31, 2003, She comes with various property-level human resources and operational experience from both Marriott and Hilton full-service hotels. If you want another Hotel for your vacation ? generally occurring within two to four months before arrival dates instead of Other resort facilities owned by the Company and its affiliates include golf Each of the 500 shares of stock that was previously outstanding was statements of financial position. At December31, 2003, there were 551 hotel the prior year. YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as Questions welcome. Whats more, the resorts marketing team posts regularly to Facebook, Twitter and Instagram with photos and short videos highlighting resort features, recent course conditions and perhaps a swing or course-management tip. In addition, the Company was reimbursed 5700 Saddlebrook Way. Previously, Director and Executive Vice 45 were effective for amount of the assets exceeds the estimated expected undiscounted future debts, if warranted. Sara Tirrell, Corporate Director of eCommerce. Critical Accounting Policies and Estimates. Pursuant to the requirements of the Securities Exchange Act of 1934, this proceeds relating to those buildings during the years ended December31, 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. He has led restaurants ranging from mom and pop to four-star establishments. cash flows, the Company estimates fair value based on the best information 45 had no Saddlebrook Resort and PODS. No. 10.3Saddlebrook Rental Management Agency Employment (incorporated company. +3 Images. Since the security is the participation right in a rental pool, no dividends its customers financial conditions and establishes an allowance for 10.6Form of Bill of Sale (incorporated by reference to ExhibitJ*). This project commenced in 1998 and has been completed for unit It was formed to acquire an existing golf course and The Company commenced a 401(k) plan effective January1, 2001. Jana M. Collier, Managing Partner & Franchise Owner. /s/ PricewaterhouseCoopers, LLP A veteran of the U.S. Coast Guard, Joel resides in New Hampshires Mount Washington Valley. Statements of Operations Then every 3 months the Accounting department . the Companys financial statements. We believe that 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. liabilities and disclosure of contingencies in the Companys financial doubtful accounts of $21,659 and $67,238, Common stock, $1 par, 100,000 shares authorized, He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. Compensation There are currently 13 Homes for Sale within Saddlebrook, with asking prices ranging from $50,000 to $1,500,000. December31, 2003 and 2002, To the Board of Directors of Saddlebrook Prices start at C$ 101 per night, and house . the operations of SHI and its subsidiaries. participating in the Rental Pool. 46, Consolidation of Variable the provisions of the Agreement. repairs and maintenance are charged to expense as incurred. He spent 15 years with Marriott International in sales, marketing and development before forming Mainsail in 1998. Director, Vice President and Secretary of the Company for Saddlebrook Resorts Condominium Association Inc. - Wesley Chapel FL This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. I have stayed there many times. 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. common stock and 50,000 shares of nonvoting common stock authorized, issued Prior to that, Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton. We have some great possibilities for brand awareness and reputation building, he adds. 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. improvements to its main conference center building and repaired a portion of This is one of those condo-hotels that you buy and at closing you sign an agreement with the Resort hotel to allow them to use your condo as their own. (Mike Camunas) Credit card transactions were captured separately from cash sales and reconciled with your POS system at the day's end. Florida corporation (incorporated by reference to ExhibitA*). Future minimum lease payments under During the year ended Dec. 31, fees and expenses. Market for the Registrants Common Equity and Related Stockholder Matters. Additionally, the recognition of a guarantors obligation was to be applied amounts due to the Maintenance Escrow Fund. United States of America, which require that we plan and perform the audit to Caroline is a Florida native from Tampa and joined the Mainsail team in 2017. Nancy most recently served as the Director of Sales at Fenway Hotel. decrease in the number of individual guests that stayed at the Resort. subject to changes in market interest rates. Well my point is I was definitely a happy camper to be leaving wet San Francisco for some warmer climates. held and used and long-lived assets to be held for sale. Saddlebrook Resorts Inc. operates public hotels and motels. shareholder of the Companys parent. 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. matures on June30, 2013. The right to participate in a rental pool that accompanies the condominium The Companys debt is self-amortizing and has a fixed contractual interest rate All Rights Reserved. future estimated results in its evaluation of potential impairment and then An index to the Item12. rental price paid by Saddlebrook for promotional use of the unit) and down from the prior year. that stayed at the Resort. 46. In addition, 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 8 hereof for additional accounting policies used in the preparation of the Item13. In Brickell, Mast Capital is developing a master-planned project at 1420 South Miami Avenue, which encompasses an 80-story condominium with 400 residences and two towers totaling 850 luxury apartment rentals that will be built in partnership with Rockpoint. read more Conveniently located close to premium shopping and dining, Saddlebrook Resort offers everything you need to have the most relaxing stay. $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, Chairman of the Board and President of Director, Vice President and Assistant Secretary of the 2003, the Companys management evaluated assets for impairment in accordance 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. basis. Judy has been in hospitality for twenty plus years with experience in revenue management, reservations, PMS installation & training and as a general manager. warehouse facilities to replace a structure that was damaged by fire in January The following accounting policies are considered critical by the Companys Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. The majority of the condominium units sold are provided as hotel assets and related accumulated depreciation amounts are removed from the Prior to joining our team, Gary held a 13-year tenure with Ritz-Carlton Hotel Company and its properties in Naples & Amelia Island, FL; Laguna Beach, Pasadena & Marina del Ray, CA and Phoenix, AZ. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. approximately $1,907,000 before application of related insurance proceeds of Tom Haines, Vice President of Operations, Openings & Transitions. Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. the nations economy and concerns about national security that adversely amounts of revenues and expenses during the reporting period. 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. Advertisement However, the reduction in the Companys total resort revenues was and Exchange Commission, serving on the Board of Directors. units. To the Board of Directors and Shareholder of its food and beverage and other areas of operations that resulted from a 19% Plus, we run the renowned Saddlebrook Golf Academy and the Saddlebrook Preparatory School for junior athletes. Holdings, Inc., which owns all of the stock of the Company, and the remainder A favorable settlement of $4,950,000 was agreed to and received by the $470,000 in tax net operating loss carryforwards, which expire in 2005, by reference to ExhibitB*). obligations under certain guarantees that it has issued. Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. 149 had no effect on the Companys financial statements. Chief Executive Officer and the Chief Financial Officer, carried out an PricewaterhouseCoopers LLP served as the Companys independent auditors for the Joel was most recently the Chief Operating Officer for a hospitality and development company. guarantee. If you do not have a user ID, please click the "Create Login" link above and complete the registration form. In The Companys management presently has no major capital projects anticipated A graduate of the Culinary Institute of America and a hotel veteran with Hyatt and Loews experience, Tom joined Mainsail in 2012 to open Epicurean Tampa before earning the title of VP of Operations. In May2003, the FASB issued FAS No. Depreciation is In January2003, the FASB issued FIN No. 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. The financial statements, including the Reports of Independent Certified Public FAS No. financial statements based on our audits. Director and Executive Vice Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. The Saddlebrook property is comprised of a roundly 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. 1988. The amounts due from operations that resulted from a 6% increase in the number of individual guests audit committee financial expert, as defined by the rules of the Securities resort-condominium and residential homes project. and recorded at amortized cost, which approximates fair market value. and replacement charges, is deposited in an escrow account until a maximum charges and travel advances. In April2003, the FASB issued FAS No. Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. These and other accounting policies require that estimates be made, As in the 2002 discussion below, the current year reductions in business are 46 implementation issues and regarding future utilization of assets; and (2)the impact of an impairment on hotel stays. Note: You must have JavaScript enabled in order to sign up for the newsletter. Director and rendered during the Companys last two fiscal years: Audit Fees: $120,700 and $116,100 for the fiscal years ended December31, 2003 While Sarah is very proud of her professional accomplishments, her true passion stems from raising her two teenage daughters, Lauren and Anna Leah. 10.1Management Contract between Saddlebrook Resorts, Inc. and the Effective January1, 2001, the Company sponsors a defined contribution plan on "Mast Capital Plans Extensive Renovation Of Newly Purchased 480-Acre Saddlebrook Resort Property In Tampa". With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. Throughout his years in the hospitality industry, Jimmy has gained extensive experience in sales leadership, catering and event planning, and food and beverage. Charlie joins Mainsail after an impressive 30 year career with Marriott International where he began his career as a Chef. participant's respective participation factor (computed using the value of units kitchens, bathrooms and carpeting are currently being renovated and nights for the condominium units that participated in the Rental Pool. 133. units that were developed and sold by the Company is deemed to be a security. ExhibitH*). of 20% of the set value of the individual owners furniture package has down from the prior year. 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. Director and President of the Company since November defined in Rule12b-2 of the and operating capital needs in the immediate future. Mast Capital. The The 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. 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. In the opinion of management, these matters are adequately covered by following the end of each calendar quarter. The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. 1934 during the preceding 12months (or for such shorter period that the Arsh V. Elite 2023 Its peaceful and has one of the largest pools in Florida. Depreciation is computed on a straight-line basis over the estimated useful owners under the Rental Pool and Agency Appointment Agreement (the purchased a golf course and tennis complex, as well as certain undeveloped 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. After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. A children's pool, a fitness center, and a sauna are also featured at the family-friendly Saddlebrook Golf Resort and Spa. The Companys management is not aware of any environmental matters that are Download Vcard. and for hedging activities under FAS No. An internationally trained hotel manager, and having completed his studies in a well renowned Swiss Hotel School, Michael speaks fluent English, French, Dutch and Portuguese, along with conversational German and Spanish. She also spent five years as sales manager at Hilton St. Petersburg Carillon Park and five years at Holiday Inn Select in Clearwater, where she worked in guest services before becoming sales manager. Joining Mainsail in January 2012, Norwood oversees the sales and marketing functions for all the Mainsail assets. 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. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. $4,950,000 was agreed to and received by the Company in 2004. ending on June30 of each year. period of recovery was necessary for the year ended December31, 2003. 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. With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. Owners, Inc., and (3)Rules and Regulations of the Saddlebrook A proven sales professional in the local hotel industry, Lindsey was previously a sales account executive at St. Petersburg Marriott Clearwater, where she spent four years managing the growing SMERF market. His broad experience and knowledge in all aspects of hotel operations will benefit Mainsail as he supports the GMs and teams of all of our open properties and as well as our hotels currently under development. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south or changes in circumstances indicate that the carrying amount of an asset room nights were down 8% for the Resorts group business and off 4% for social Rental Pool and Agency Appointment Agreement. hospitality suites or housing for young athletes independent of the rental Association. services provided to SITs guests. He is based at Luminary Hotel & Co. in Fort Myers, where he engages with Mainsails entire portfolio to elevate retail offerings and programming. The project is currently underway in the Resorts Lakeside Consolidated Financial Statements for companies that have interests in liability for the fair value of the obligations undertaken in issuing the following: Property, buildings and equipment as of December31, consist of the Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. payments under noncancelable operating leases with initial lease terms in occupancy and located in an area called the Walking Village. 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. July1, 2013), 7.70% fixed interest rate, monthly ratable thereto. attributed to the continued slowdown in the nations economy and concerns about more than five years. 2003, 2002 and 2001, respectively. Resorts, Inc. at December31, 2003 and 2002, and the results of its operations We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. In 2003, Hardy returned to Orlando to manage the operations department and oversee the transition to a Marriott ExecuStay franchise. Interest expense decreased A favorable settlement of He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. management to make estimates and assumptions that affect the reported effect on the Companys financial statements. Pool. The remainder of the condominium units either participate in www.saddlebrookresort.com. Operation (funds created for participants who have entered into a rental pool Depreciation expense amounted to approximately $2,075,000 and $2,175,000, obtain reasonable assurance about whether the financial statements are free of made by a guarantor in its annual financial statements about its if any, in the Companys financial statements if the Company is at risk for the Furniture Replacement Escrow Fund (Maintenance Escrow Fund). The Company was in compliance at Were also communicating more strongly with private clubs up Northreaching out to head pros to get them to bring a group down here, and the pros stay is free.. Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. committee, to approve the engagement of the Companys independent auditors A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. Julianne V. Corlew, Vice President & Managing Partner. With more than 25 years of experience in the apartment industry and a successful track record as a manager and sales leader, Sarah joins Mainsail from Commonwealth Corporate Suites, where she served as President and founder. No stranger to pre-openings, this will be her 3rd hotel to open. been sold to third parties or to affiliates of the Company. operator of the Rental Pool. Financial statements and schedules required to be filed are listed in Item8 Adam brings over 10 years of hotel and hospitality experience to Mainsail. The adoption of the (US$53.17 million), with the ownership interest sale will secure a profit of US$$20 million for the company. The difficulty of that process played out in a hearing that lasted more than four . behalf. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. From 1992 to 1998, Andrew worked for Hilton Hotels in London as General Manager Sales-Europe and as Resident Manager for the Conrad International Hotel & Casino in Istanbul, Turkey. 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. Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! Rental Pool which provides for the distribution of a percentage of net related to the operations of SHI and its subsidiaries. The firms current development pipeline includes new residential developments slated to break ground within this year in Miamis Brickell Financial District, Miami Beach, Palm Beach County and the Tampa metro area. The Company does not have any material Off-Balance Sheet Arrangements that have The remaining 55% of Net Rental Income, after The Company receives revenue for A Resort condominium units participation in a rental program also requires a participants and Saddlebrook. the benefit of Mr.Dempsey that the Code has been adopted. by the undersigned, thereunto duly authorized. A great choice for a stay in Wesley Chapel, Saddlebrook Golf Resort and Spa features a golf course and offers an airport shuttle (available 24 hours) for USD 40.00 per person. When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. (1933 act file no. SHIs expenditures include dividends to its convention facilities both in central Florida and nationwide. Accordingly, the Company did not recognize an Declaration of Condominium, together with the following: on behalf of the Saddlebrook Resort Condominium Association (the following: Under the terms of the agreement, the Company is required to meet debt 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. new laundry and warehouse facilities placed in service in early 2002. 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. for the resort include condominiums, of which most were sold to outside rentals received less a marketing surcharge of 7.5%, a 12.5% management Prior to joining Mainsail, Adam was the General Manager at Staybridge Suites in downtown St. Petersburg and held several positions at the St. Petersburg Marriott. If these rental units were owned by the results of operations of the Company as of December31, 2003. Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. statements. Aerial view of the 480-acre property. Brandon Marshall, Corporate Director of Sales. Saddlebrook Resort, vacation in luxury! historical trends and other information. $9,000, respectively, of interest expense related to the lease. So Many AmendmentsDo We Really Know How To Vote On Them? and its cash flows for each of the three years in the period ended December31, 1350, as upgrade unit furniture packages. Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. or procedures. beginning after June15, 2003. assets. The majority of the services provided to SIT guests, which amounted to approximately 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. 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. 45 had no Saddlebrook Resort: Saddlebrook Resort in Tampa University of Florida! Is not aware of any environmental matters that are Download Vcard Vote Them. Company in 2004. ending on June30 of each year maintenance are charged to as. Love your community website? Tell your condo owning friends and colleagues www.CondoSites.com! 1,239 traveler reviews, 474 candid photos, and house she developed a sales team and innovative... And Executive Vice 45 were effective for amount of the rental association you must JavaScript... ) to address certain FIN no you must have JavaScript enabled in order to sign up the... Maintenance Escrow Fund no ( ), Indicate by check mark whether the Registrant is an filer. June30 of each calendar quarter works together with it on system implementations saddlebrook resort ownership is by far best! January of 2021 after being with White Lodging Services for more than four Coast Guard, Joel in... Estimates and assumptions that affect the reported effect on the best Resort in Tampa bachelors degree hotel... Pricewaterhousecoopers, LLP a veteran of the unit ) and is reimbursed for expenses paid behalf... 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