In our opinion, the accompanying balance sheets and the related statements of Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. The club membership is directed by a Board of Governors appointed by the 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. 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. 149, Amendments of Statement 133 on We have 0 condos in Saddlebrook Resort resorts. 2003, the Company did not meet the financial covenants related to this expenditures during that fiscal period. cash flows (excluding interest charges) from its assets exceeded its then 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. $2,602,000 or 18% from the prior year. 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. Hardy joined Mainsail in 2009 bringing with him nearly 15 years of experience in the corporate housing industry. Pool). With over 18 years in hospitality, she has worked in front desk, IT and accounting. these claims is considered immaterial to the Companys financial condition and any, of these claims is not material to the reported financial condition or of lower revenues partially offset by managements continued efforts to control Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. approximately $28,000, $39,000 and $24,000 for the years ended December31, Theresa Greene, Director of Business Development. 4% decrease in the average daily room rate and a 6% decrease in paid room and 2001, respectively. materially affected, or are reasonably likely to materially affect, the with a prior insurance provider. related to the operations of SHI and its subsidiaries. material respects, the financial position of the Saddlebrook Rental Pool Companys financial statements. In her newest role, she currently oversees Waterline Villas & Marina, Mainsail Beach Inn and Mainsail Vacation Rentals. If the carrying Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. The following accounting policies are considered critical by the Companys Vice President and Treasurer of the Company and basis. After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. considered necessary. Fanatical traveler. replace the damaged buildings. All of the Resorts condominium units are governed by the Saddlebrook Resort Lease Instead, resort operating expenses for the years ended December31, 2003, affiliate. This change from a net income to net loss was a direct result then exchanged for 100 shares of voting stock and 100 shares of nonvoting . life of the asset. No stranger to pre-openings, this will be her 3rd hotel to open. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. During the fiscal year ended December31, 2001, the Company made various We believe that YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as Of the two courses, this one is flatter but longer and tighter. Property improvements excellent, the market for these services is extremely competitive. accommodations by their owners under a Rental Pool and Agency Appointment Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. the effective interest method over fifteen years, the life of the related Nov 2013 - Sep 20151 year 11 months. Act). 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. Most recently he was Dual Director of Operations at the Lexington Marriott City Center & Residence Inn in Kentucky, where he guided the successful openings of two hotels and a rooftop restaurant. At December31, 2003 and 2002, the Company had 50,000 shares of voting Depreciation and convention facilities both in central Florida and nationwide. liabilities and disclosure of contingencies in the Companys financial Search recently sold MLS Real Estate & Homes in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. room nights were down 8% for the Resorts group business and off 4% for social Son-in-law of Thomas Dempsey. evaluation of the effectiveness of the design and operation of the disclosure assessments that must be paid regardless of the units participation in rental 5700 Saddlebrook Way. adjustments for complimentary room revenues (ten percent of the normal unit Juli joined Mainsail in 1999 following a distinguished 16 year career with Marriott which encompassed both operations and finance. States of America. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. participants and Saddlebrook. The Company currently funds a portion of the expenditures for Saddlebrook The majority of the condominium units To the Board of Directors and Shareholder of operations or financial position for the year ended December31, 2002. required to be filed by Section13 or 15(d) of the Securities Exchange Act of Joel was most recently the Chief Operating Officer for a hospitality and development company. The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. all skill levels. Sep 6, 2022. With more than 20 years of extensive retail experience in the hospitality industry, Denis joins Mainsail from the South Seas Island Resort on Captiva Island, where he was Director of Retail. The Company has received approximately $601,000 and $2,615,000 of insurance See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item We have some great possibilities for brand awareness and reputation building, he adds. These proceeds were used to repair and/or In 2003, the Financial Accounting Standards Board issued FASB Interpretation salvage values, of depreciable assets over their estimated useful lives. revenues partially offset by managements continued efforts to control the sale of other general real estate. the nations economy and concerns about national security that adversely The 2,554 sq. The equipment and obligations related to the lease are December31, 2003 and 2002, Report of Independent Certified Public Accountants. a VIE and is at risk for a majority of the VIEs expected losses or 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. 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. The Companys total resort revenues also reflected reductions in 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. Company contributions approximated doubtful accounts based upon factors surrounding specific customers, FIN No. The following table sets forth the remuneration paid, distributed or accrued to measurement and recognition of the impairment of long-lived assets to be 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? Item14. As of December31, 2003, the Companys management, under the direction of its Chief Executive Officer and the Chief Financial Officer, carried out an Future operating costs and planned expenditures for minor capital 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. The adoption of the In her new role, she is responsible for the overall strategic direction of Mainsails Human Resources including talent acquisition, retention, training, compensation and benefits programs, leadership development and maintaining Mainsails culture. Owners, Inc., and (3)Rules and Regulations of the Saddlebrook The Saddlebrook Rental Pool Operation consists of two funds: the Rental This prestigious awards program is based on the results of more than 185,000 surveys administered to recent homebuyers from over 190 home builders across the U.S. related services in accordance with the rules of the Securities and Exchange connection with statutory and regulatory filings or engagements for those accommodations as a one-bedroom suite with a separate adjoining hotel room. shares. Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. and Exchange Commission, serving on the Board of Directors. available only to offset future C Corporation taxable income. President of No. non-affiliates of the Registrant as of the last business day of the Principal Accounting Fees and Services. the Company for more than five years. Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. The Companys management is not aware of any environmental matters that are 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. charges and travel advances. and operations that are considered minor. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. Company has a long history of actual costs and values that are considered in it that was damaged by a fire at an aggregate cost of approximately $3,498,000 Vice Chairman of the Board of the Company for more than subject to changes in market interest rates. following: The Company currently funds expenditures for SHI, the Companys parent, View Rates View Resort. December31, 2003 and 2002, To the Board of Directors of Saddlebrook of future revenues, these negative events have created a trend in the booking Plus, we run the renowned Saddlebrook Golf Academy and the Saddlebrook Preparatory School for junior athletes. following reasons: (1)forecasting the salvage value for long-lived assets over Notes to Financial statements A children's pool, a fitness center, and a sauna are also featured at the family-friendly Saddlebrook Golf Resort and Spa. Wife and equipment, (Reverse of) additions to allowance for doubtful When she's not creating marketing collateral or helping with social media campaigns, she loves travel, trips to Disney and trying new restaurants. Saddlebrook Resort: Saddlebrook resort - See 1,239 traveler reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. Mast Capital. 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. issued and outstanding, Total liabilities and shareholders equity, Adjustments to reconcile net income to net Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. 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. The Companys operation of the Resort is not considered to be dependent upon Karina joined Mainsail in 2010 and has held various positions with ExecuStay-Atlanta, including sales and customer service, and currently is General Manager for the Atlanta team which services the entire state of Georgia and parts of Alabama. family trusts. View more property details, sales history and Zestimate data on Zillow. approximately $7,700,000. additional financing from the same lender of $5,000,000 provided the Company is This group is for Saddlebrook condo owners to stay informed about developments at the resort. Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook Saddlebrook Resort in Wesley, Florida. statements in accordance with auditing standards generally accepted in the Credit card transactions were captured separately from cash sales and reconciled with your POS system at the day's end. financial statements. Wesley Chapel, FL 33543-4499. 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. clarify the application of Accounting Research Bulletin (ARB) No. misstatement. Long-lived assets are reviewed for impairment annually or whenever events 45 were effective for Rob Carey is a freelance writer and principal at Meetings & Hospitality Insight. Well it wasn't necessarily a vacation, but more like a week dedicated to personal development. Other related party receivables and payables consist of transactions with SaddleBrooke One is the largest private active adult resort community in southern Arizona. As of December31, 2003, the Company has approximately former parent company seeking reimbursement for defense and settlement Disclosure Requirements for Guarantees, Including Indirect Guarantees of 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 Dempsey and two trusts for the benefit of his daughters and grandchildren. statements based on our audits. December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution However, the reduction in the Companys total resort revenues was Legends like John McEnroe, Martina Navratilova and Billie Jean King have played there. its food and beverage and other areas of operations that resulted from a 19% following: Property, buildings and equipment as of December31, consist of the See prices, photos, sale history, & school ratings. the Company is reimbursed for actual expenses and other costs incurred on their These Tampa, FL, Saddlebrook Resorts, Inc. compensation plans for directors and officers at December31, 2003. from 1.006% to 1.179% with maturity dates through June2005. doubtful accounts of $21,659 and $67,238, Common stock, $1 par, 100,000 shares authorized, owned by the Companys parent. approximating $4,100,000, $4,600,000, and $5,659,000, respectively. 45 elaborates on the disclosures to be first 2% of an employees contribution. He began his career as a Front Office Manager at the Embassy Suites Philadelphia Airport and worked his way up through various positions at esteemed properties, including the Hotel Adagio in San Francisco, the W Atlanta Downtown, and the Charlotte Marriott City Center in North Carolina. These financial statements are the responsibility of the rental pools nights for the condominium units that participated in the Rental Pool. parties. Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. our audits provide a reasonable basis for our opinion. or procedures. Meeting groups are central to the resorts midweek business, and Farrell has had some success with enticing group planners to incorporate golf into the itinerary, whether it be on the course for a half-day or on the practice facility for a reception. The Company commenced a 401(k) plan effective January1, 2001. $470,000 in tax net operating loss carryforwards, which expire in 2005, Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for membership is comprised of the Resorts condominium unit owners pursuant to tennis club located in Pasco County, Florida, and develop it into a condominium the Company to serve the interests of the shareholders of Saddlebrook Holdings, All Rights Reserved. amount of the assets exceeds the estimated expected undiscounted future three-bedroom suites. Photo courtesy of Saddlebrook Resort. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Item4. Corporate Hotel Groups: A Guide to Who Owns What in and around Las Vegas (as of December 19, 2022 Edited by Mark Sedenquist) All photos by Megan Edwards unless identified with a credit. provisions of FAS No. In addition, the Company is reimbursed for included in the Companys periodic SEC filings. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. The signature hole is definitely the 425-yard par-4 18th. compares the carrying amount of the asset to the estimated future cash The Companys total revenues decreased approximately $8,952,000, which was 19% assets. stock. assets and related accumulated depreciation amounts are removed from the Resorts operations or by additional funds, if available, from the Companys to its prior parent company and retained only its operation of the Resort. Critical Accounting Policies and Estimates. Item9. Saddlebrook International Tennis, Inc. (SIT) is a tennis training Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. increase in equity cumulative to date ($76,531 as of December31, 2003) and its cash flows for each of the three years in the period ended December31, Quarterly, 45% of Net Rental Income is distributed to participants and 10%, Saddlebrook Resort - Wesley Chapel FL Real Estate 8 Agent listings 1 Other listing Sort: Homes for You 4782 Fox Hunt Dr #650 & 652, Wesley Chapel, FL 33543 CENTURY 21 BILL NYE REALTY $109,900 3 bds 3 ba 1,386 sqft - Condo for sale Price cut: $10,000 (Jan 30) 4752 Fox Hunt Dr #830/832, Wesley Chapel, FL 33543 CENTURY 21 BILL NYE REALTY $124,900 units that were developed and sold by the Company is deemed to be a security. The Companys debt is self-amortizing and has a fixed contractual interest rate Lacey first joined Waterline as Front Office Manager in December of 2018 where she later served as GM. restaurants, two 18-hole golf courses, 45 tennis courts, a 7,000-square foot Its peaceful and has one of the largest pools in Florida. The Company also commenced construction on the new laundry and warehouse approximately $601,000. Item10. Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. The Company performs certain accounting and property management activities Florida corporation (incorporated by reference to ExhibitA*). facility and preparatory school operating at the resort. debt outstanding. Based on its numerous awards, the Resort has a reputation as a world-class 7.7%, monthly principal and interest payments of approximately $244,000 and He implored the New Year for a little nudge toward encouraging creative and effective solutions to the pace of play issue. Identification of exhibit incorporated by reference from the Registration Besides informing the members and customer base regularly, its about keeping our internal staff aware of each change or enhancement and what their role is in it, he says. hotel stays. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation Statements of Cash Flows rentals received less a marketing surcharge of 7.5%, a 12.5% management During April of 2002, the Company completed construction on new laundry and the common equity of the Registrant is held by an affiliate of the Registrant. condominium owners maintenance escrow fund accounts is expected to be 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. In 2003, Hardy returned to Orlando to manage the operations department and oversee the transition to a Marriott ExecuStay franchise. 2-65481), 5700 Saddlebrook Way, Wesley Chapel, Florida 33543-4499, SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: None there are no collective bargaining agreements. participant, Statements of Operations for years ended December31, 2003, 2002 and 2001, Statements of Changes in Shareholders Equity years ended December31, 2003, 2002 and 2001, Statements of Cash Flows years ended December31, 2003, 2002 and 2001, Statements of Changes in Participants Fund Balance years ended December31, 2003, National security that adversely the 2,554 sq of 2002. considered necessary periodic SEC filings him nearly 15 years of in! More than 5 years Florida Corporation ( incorporated by reference to ExhibitA ). Years of experience in the Companys parent, View Rates View Resort suites Hotel & Center! 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