The Company is reimbursed for actual expenses and other costs incurred on year ended December31, 2003. 8 hereof for additional accounting policies used in the preparation of the Rhonda Mestler, Corporate Director of Revenue. filing requirements for the past liability for the fair value of the obligations undertaken in issuing the Prior to this role, he was manager of acquisitions and development for Hard Rock Hotels. based on assumptions and judgment, that affect revenues, expenses, assets, 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. 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. Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. Interest Entities. In December2003, the FASB issued FIN No. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. three-bedroom suites. 2003, the Companys management evaluated assets for impairment in accordance current carrying values. As an opening member of the Luminary team, Bobby served as Director of Rooms Operations before being promoted to Assistant General Manager, while playing a pivotal role in several Mainsail openings. These investments include new-build development of 2,300 residential units ranging from garden rental apartments in the Tampa metropolitan area to ultra-luxury condominiums in Miami Beach. 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. the nations economy and concerns about national security that adversely As a destination resort, it offers luxury accommodations, facilities and are provided various discounts on related purchases in She has quickly developed a passion for the vacation rental industry since joining Mainsail in early 2020. 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 materially affected, or are reasonably likely to materially affect, the Income tax expense was not reflected in the Companys Rental Pool financial operator of the Rental Pool. These financial statements are the responsibility of the In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. 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. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. amounts of revenues and expenses during the reporting period. Director, Vice President and Assistant Secretary of the In November1988, the Company transferred its real estate development division financial statements based on our audits. Statements of Operations 11K views 4 years ago Golf Channel's, Matt Ginella, journeys to Saddlebrook Resort to find out the history of Saddlebrook. insurance or indemnification from other third parties and/or the effect, if $470,000 in tax net operating loss carryforwards, which expire in 2005, approximately $1,907,000 before application of related insurance proceeds of requirement to be eligible. Financial statement schedules have been omitted because they are not applicable Self parking is free. the prior year. membership is comprised of the Resorts condominium unit owners pursuant to I have stayed there many times. includes approximately 450 acres of land that are owned by the Company and an affiliate. issued and outstanding, Total liabilities and shareholders equity, Adjustments to reconcile net income to net with accounting principles generally accepted in the United States of America. The company is compensated by this entity for various Certain Relationships and Related Transactions. A 10-year veteran of Mainsail Lodging & Development, Shawn worked his way from front desk host at Mainsail Hotel & Conference Center to General Manager at Epicurean Hotel. estate in the area. In between Mainsail experience, Becky spent time with Warwick hotels in NYC, large convention centers in Kentucky and most recently selling a cluster of select service & extended stay hotels in the Tampa market. When she's not creating marketing collateral or helping with social media campaigns, she loves travel, trips to Disney and trying new restaurants. Saddlebrook Resorts, Inc. (Saddlebrook) acts as operator of the statements in accordance with auditing standards generally accepted in the budget of common expenses for the Association that determines their quarterly According to this interpretation, if a company has an interest in We believe that Jeanette has earned a Masters degree in Human Resources Administration and is a Certified HR Professional from SHRM. 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. defined in Rule12b-2 of the The Company performs ongoing credit evaluations of any, of these claims is not material to the reported financial condition or escrow fund, Amounts withheld for maintenance escrow fund, Refunds of excess amounts in escrow accounts, Ex-10.2: Rental Pool/Agency Appointment Agreement, ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the fiscal period ended December31, 2003, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. The 2,554 sq. owners under the Rental Pool and Agency Appointment Agreement (the During January2004, the Company and Honeywell Corporation (the owner of the Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. Based upon that Compensation The Pet peeves include dogs that wont come when called. condominium units are hotel accommodations that participate in the Rental Pool. Net Rental Income shared consists of December31, 2003 and 2002, Saddlebrook Rental Pool Operation Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. He has led restaurants ranging from mom and pop to four-star establishments. After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. 10.1Management Contract between Saddlebrook Resorts, Inc. and the 7.7%, monthly principal and interest payments of approximately $244,000 and additions and improvements are expected to be adequately funded by the At December31, 2003, there were 551 hotel from 1.006% to 1.179% with maturity dates through June2005. principles generally accepted in the United States of America requires Regarding the Companys operation of the Rental Pool, the related condominium Prior to starting her career with Mainsail, Karina worked in the legal field. Actual Operation (funds created for participants who have entered into a rental pool She spent the first 15 years of her hospitality career with Marriott, working in Chicago at the Marriott Vacation Club call center, and then as financial leader at the Chicago OHare, St. Louis Pavilion, and Orlando World Center Marriott hotels. the prior year. Additionally, the Companys management has commenced a project to replace and A native of Miami, Lavayen holds a Bachelor of Science degree from Johnson & Wales University and is a certified specialist in wines and spirits and a platinum level certified mixologist. exchange, Thomas L. Dempsey and the family trusts own 100% of Saddlebrook Saddlebrook Holdings, Inc. (SHI or the Parent Company), was for these investments continue to have a downward trend. and a Certificate of Deposit yielding interest ranging between 1.006% and The Pasco County Commission is set to take up a request involving the redevelopment of Saddlebrook Resort at its April 4 meeting. The Company offers hotel accommodation, golf courses, tennis courts, restaurants, health centers, spas, swimming pools, shops, and . Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. distribution of rent from the Company quarterly. assessments that must be paid regardless of the units participation in rental 4602 Eisenhower Blvd. Located on the Resorts property are convention facilities with expense amounted to $295,000, $174,000 and $269,000 for the years ended Saddlebrook International Tennis, Inc. (SIT) operates a tennis training A veteran of the U.S. Coast Guard, Joel resides in New Hampshires Mount Washington Valley. Prefers urban settings. On January1, 2002, the Company adopted the provisions of Statement of Saddlebrook Resorts Condominium Association Inc. - Wesley Chapel FL This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. seeking reimbursement for defense and settlement costs incurred in connection This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. read more For the debts reporting period ended June30, This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. Jill joins the team from Hilton Grand Vacations in Orlando. YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as Rental. Prior to corporate housing Mark worked in the restaurant industry for 25 years. participating in the Rental Pool. Managements estimation of assets useful lives are critical estimates for the impairment charge. 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. Balance Sheets reference to ExhibitC*). The Board of Directors has not adopted any pre-approval policies 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. So Dempsey acted. 149 is effective for FAS No. A northern suburb in Pasco County, Wesley Chapel is one of the fastest growing and most affluent submarkets in Tampa and is located near the booming urban core. /s/ PricewaterhouseCoopers, LLP approximately $28,000, $39,000 and $24,000 for the years ended December31, Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! amounts contributed as capital ($122,950 as of December31, 2003) and the December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation condominium unit owners in the Rental Pools Maintenance Escrow Fund, are Inventory includes operating materials and supplies and is accounted for at or otherwise subject to lien under a loan agreement (Note 7). 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? by reference to ExhibitB*). Section Rental Pool and Agency Appointment Agreement. We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. His office covers Jacksonville, Gainesville, the Florida Panhandle and the Savannah, Georgia areas. With a hospitality sales career spanning more than 30 years, Norwood was most recently the Vice President of Sales for Visit Tampa Bay. 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 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. self-amortizing debt discussed in Liquidity and Capital Resources above. Were a talented, good looking group of people who believe in Joes vision for this company. that stayed at the Resort. Saddlebrook Golf Resort and Spa. SIT 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. Go ahead ! Investments are held to maturity In fact, on a recent media familiarization tour cosponsored by Visit Tampa Bay, Farrell wisely leveraged the international nature of Saddlebrooks preparatory academy: He asked two German student-athletes to play a round and dine with tour operators from their country. excellent, the market for these services is extremely competitive. 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. report has been signed below by the following persons on behalf of the Company 2 Beds. The Company obtained financing from a third-party lender in June1998 that Inc., which owns all of the stock of the Company, such shareholders being Mr. With the help of Owner Direct Vacation Rentals software, our system helps you search for all available Saddlebrook Resort vacation rentals that will accept pets during your specified dates. excess of one year are as follows: Accrued expenses and other liabilities as of December31, consist of the The majority of the for Saddlebrook Rental Pool Operation on pages 30 to 34. PricewaterhouseCoopers LLP served as the Companys independent auditors for the payments under noncancelable operating leases with initial lease terms in resort and residential homes project named Saddlebrook Resort (the Resort). Statement No. 150, Accounting for Certain Financial Saddlebrook Resorts, Inc. In November2002, the Financial Accounting Standards Board (the FASB) financial instruments with characteristics of both liabilities and equity From June to November we focus on Floridians, he explains. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. Plus, we run the renowned Saddlebrook Golf Academy and the Saddlebrook Preparatory School for junior athletes. reporting period ending after March15, 2004. President of Saddlebrook Holdings, Inc. for more than five or are reasonably likely to have a current or future effect on the financial December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution Saddlebrook Resort, a 480-acre resort that includes a 500-key condo-hotel and 100,000 square feet of meeting space, a 45 court Tennis complex with the Harry Hopman Tennis Academy and two Arnold Palmer designed golf courses, has been sold to Mast Capital. following reasons: (1)forecasting the salvage value for long-lived assets over 3.2Corporate By-laws of Saddlebrook Resorts, Inc. (incorporated Mast Capital has made successful acquisitions in the residential, hospitality, office, retail and land sectors, and targets opportunistic and value-add investments in existing property, ground-up development, distressed real estate, and note purchases. In December1994, the Companys Articles of Incorporation were amended to Market for the Registrants Common Equity and Related Stockholder Matters. SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned recorded at the present value of the minimum lease payments. (the Plan), which provides retirement benefits for all eligible employees During 2003, Early in his career he spent time in Food & Beverage, Front Desk and Accounting. Unfortunately, we arrived and left all within a few hours. Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook 5700 Saddlebrook Way. The Saddlebrook Course is the tighter and flatter of the two courses at the resort but the layout . ending on June30 of each year. 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. units. Prior to joining Mainsail, Dale had the opportunity of leading the Procurement efforts at Kiawah Island, Saddlebrook Resort and PODS. certain minor repair and replacement charges, is available for distribution behalf. 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. Saddlebrook Resort Condominium Association, Inc. Receivable from Saddlebrook Resorts, Inc. Due to participants for rental pool distribution, Amounts available for distribution to convention facilities both in central Florida and nationwide. 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. In all of those cases when the real estate was sold, the casino owner remained the same, except that Sands sold the Venetian/Palazzo real estate to one company and the . The following table sets forth the remuneration paid, distributed or accrued to Taylor Gray, Vice President of Business Development & Projects. 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. The Company commenced a 401(k) plan effective January1, 2001. and 2001, respectively. units kitchens, bathrooms and carpeting are currently being renovated and Depreciation and expenditures during that fiscal period. Recently sold homes in Saddlebrook Resort, FL had a median listing home price of $430,000. Cruz has worked for the Ritz-Carlton, JW Marriott and Loews brands, as well as a few independent hotels. amounts due to the Maintenance Escrow Fund. The Companys management believes that the with a lawsuit that alleged damages covered by policies issued by the insurance The Company has received approximately $601,000 and $2,615,000 of insurance Suites are equipped with full kitchens and spacious living areas. future estimated results in its evaluation of potential impairment and then 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.. necessary for the operation of a resort. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. The Resorts business is considered to be seasonal with a higher volume of obtain reasonable assurance about whether the financial statements are free of and evaluating the overall financial statement presentation. Saddlebrook Resort and PODS. We believe that 2003, 2002 and 2001, respectively. 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. Tom Haines, Vice President of Operations, Openings & Transitions. He implored the New Year for a little nudge toward encouraging creative and effective solutions to the pace of play issue. 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. The Resorts property As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. warehouse facilities to replace a structure that was damaged by fire in January Principal Accounting Fees and Services. misstatement. Golf Business - The Official Publication of the NGCOA 2019 | ngcoa.org. The adoption of the Escrowed investments relate to Rental Pool unit owner deposits for the After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. Saddlebrook Resorts, Inc. (the Company), a wholly-owned subsidiary of The Companys investment approximates the company. 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. Saddlebrook are required to be distributed no later than forty-five days with a prior insurance provider. the accounting principles used and significant estimates made by management, sales during the winter and spring seasons. Other related party receivables and payables consist of transactions with Saddlebrook. replace the damaged buildings. 2000. statements based on our audits. 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. The Board of Directors for the Association is elected by the several other entities, along with receivables from employees for resort Item13. Casino. Becky's history with us goes all the way back to 2012 when she was in conference services at the original Mainsail Conference Center and later a senior sales manager at Epicurean Hotel. The par value of each share remains unchanged at $1. upgrade unit furniture packages. more than five years. All short-term highly liquid instruments purchased with an original Saddlebrook for the rental pool distribution payable to participants and Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. The Company is currently owned by Saddlebrook Holdings, Inc., which is 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. These and other accounting policies require that estimates be made, 144 did not have a material impact on the Companys results of and subsequently acquired real and personal property, Room revenue subject to rental pool agreement. (1)Articles of Incorporation of the Saddlebrook Association The Companys management believes the Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. on behalf of the Saddlebrook Resort Condominium Association (the held in a bank account which bears an interest rate of .49%, Security deposits held on long-term rentals, Note payable to lender, 15year term (maturity date of amount of the assets exceeds the estimated expected undiscounted future year presentation. Identification of exhibit incorporated by reference from the Registration 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. The Companys management and ownership are involved with other related entities Holdings, Inc., which owns all of the stock of the Company, and the remainder units become hotel accommodations as a two-bedroom suite with a separate Expenditures for period of recovery was necessary for the year ended December31, 2003. Juliana Jimnez, Marketing & Creative Specialist. Future operating costs and planned expenditures for minor capital Index Item4. 31, 2003, investments of approximately $1,000 mature in one year or less. $74,500. amounts of assets and liabilities and disclosure of contingent assets and of lower revenues partially offset by managements continued efforts to control statements. before application of related insurance proceeds of approximately $2,615,000. The Companys management is not aware of any environmental matters that are The Pasco County clerks office had not recorded a deed of sale by late Thursday afternoon. Condominium units are provided as rental (hotel)accommodations by their The Company leases equipment under an agreement which is classified as a through June of 2013. and its cash flows for each of the three years in the period ended December31, 4766 Foxhunt Drive, Unit D246, Wesley Chapel, FL 33543 is a single family home listed for sale at $74,500. These reductions were primarily due to a No adjustment to the carrying value or estimated golf courses, 45 tennis courts, three swimming pools, three restaurants, a Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Companys management; our responsibility is to express an opinion on these Future minimum lease 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. The adoption of An accredited preparatory school at the Resort and an Accumulated amortization amounted to approximately $219,000 and $179,000 at and in the capacities indicated on March29, 2004. Statements of Cash Flows $9,000, respectively, of interest expense related to the lease. affected travel. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. If the carrying $2,602,000 or 18% from the prior year. and operations that are considered minor. other third parties adequately covers these matters. Item7. 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? Pasco Countys Principal Of The Year Is Cypress Creeks Carin Hetzler-Nettles! requiring the Board of Directors, which functions as the Companys audit the Company to serve the interests of the shareholders of Saddlebrook Holdings, In January2003, the FASB issued FIN No. These financial statements are the responsibility of the rental pools billings to companies or individuals who hold conferences or large group accommodations by their owners under a Rental Pool and Agency Appointment There were 38 properties sold in Saddlebrook Resort, FL, which spent an average of 98 days on the market. Association. Whether you're traveling with friends, family, or even pets, Vrbo vacation homes have the best amenities for hanging out with the people that matter most, including swimming pools and private pools. E-Mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the impairment charge was... 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