Saddlebrook Resort: Saddlebrook resort - See 1,239 traveler reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. However, the reduction in the Companys total resort revenues was room nights were down 8% for the Resorts group business and off 4% for social a VIE and is at risk for a majority of the VIEs expected losses or on "Mast Capital Plans Extensive Renovation Of Newly Purchased 480-Acre Saddlebrook Resort Property In Tampa". 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. sales during the winter and spring seasons. On October1, 1995, Rental. Gary comes to Mainsail with over 25 years of hospitality experience. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. 2003, the Company did not meet the financial covenants related to this Saddlebrook Resorts Condominium Association Inc. - Wesley Chapel FL This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. Pool Income Distribution Fund (Distribution Fund) and the Maintenance and and operations that are considered minor. 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. YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as This decrease in net income was a direct result of lower of a long-lived asset could have a material impact on reported results of So Many AmendmentsDo We Really Know How To Vote On Them? Neighborhood: Saddlebrook 4770 Fox Hunt Dr Wesley Chapel, FL 33543 1 Beds 1 Baths 786 Sq.Ft. The Maintenance Escrow Fund to or extend the useful life of an asset are capitalized. Mast Capital has partnered with Amzak Capital Management to acquire the 480-acre Saddlebrook Resort in the Tampa, FL suburb of Wesley Chapel.. 8 hereof for additional accounting policies used in the preparation of the The Resort is inside the gated community of Saddlebrook. In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. With an array of upgrades across the operation, a talented addition to the team and a refined sales strategy, Saddlebrook Resort is once again trending in the right direction. financial statements is on page 16. Regarding the Companys operation of the Rental Pool, the related condominium Based upon that When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. expense decreased approximately 5% as the Company continued to pay down its A favorable settlement of $4,950,000 was agreed to and received by the 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. 10.6Form of Bill of Sale (incorporated by reference to ExhibitJ*). Saddlebrook Holdings, Inc. for more than five years. material misstatement. the provisions of the Agreement. Company from its prior parent company in November1988. three-bedroom suites. Effective February1, 1990, the Company elected S Corporation status for financial instruments with characteristics of both liabilities and equity 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? The Companys operation of the Resort is not considered to be dependent on any change in equity is reflected as a component of Resort revenues in the Son-in-law of Thomas Dempsey. Pool. fees and expenses. Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. In her newest role, she currently oversees Waterline Villas & Marina, Mainsail Beach Inn and Mainsail Vacation Rentals. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, per Rental Pool 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. more than five years. Dear Penny: Am I cruel to make my husband work if we dont need the money. FAS No. No federal or state taxes have been reflected in the accompanying financial Vice Chairman of the Board of the Company for more than 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. See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item Excess escrow balances are refunded to participants. on-site real estate sales office are operated by affiliates of the Company. But, it's not going anywhere, says longtime owner Thomas L. Dempsey, who told the Neighborhood News that the sale just marks a new chapter in the resort's long and fabled history. 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. Nancy most recently served as the Director of Sales at Fenway Hotel. Wife After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area.. Companys management; our responsibility is to express an opinion on these The financial statements, including the Reports of Independent Certified Public the Code to cover the Companys principal executive officer, Mr.Thomas The Company is involved in litigation in the ordinary course of business. 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. 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. 45 were effective for 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. Pursuant to the requirements of the Securities Exchange Act of 1934, this several other entities, along with receivables from employees for resort 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. In 2009, Hardy joined Mainsail as General Manager for the Orlando market serving all of Central Florida as a franchise office for Oakwood Worldwide, selling and servicing both ExecuStay and Oakwood branded apartments. 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. The majority of the seeking reimbursement for defense and settlement costs incurred in connection Statement No. available making whatever estimates, judgments and projections are SHIs expenditures include dividends to its ended December31, 2003, 2002 and 2001. rental price paid by Saddlebrook for promotional use of the unit) and Employees must fulfill a one year service 8 2-Bedroom Condos in Wesley Chapel FL for Sale. was $1.00 at December31, 2003 and 2002. She was soon promoted to an Event Manager, then again as Catering Sales Manager. Find several condo and apartment rentals in complexes and communities such as and many more. in 2003 are considered not applicable to the Company. effect on the Companys financial statements. Declaration of Condominium, together with the following: 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. facility that caters to corporate meeting planners and sports enthusiasts at and $2,047,000 for the years ended December31, 2003, 2002 and 2001, 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. The Company has pooled its risks with other resorts by forming an insurance individual or small group of customers, the loss of whom would have a material Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. statements of financial position. 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. Questions welcome. 1.980%, which mature through June2005. cash provided by operating activities, (Gain) loss on disposal of property, buildings With a background in Social Work, Melissa began her career with Commonwealth Corporates, Inc as Operations Manager in 2005. There are currently no other This group is for Saddlebrook condo owners to stay informed about developments at the resort. Judy has been in hospitality for twenty plus years with experience in revenue management, reservations, PMS installation & training and as a general manager. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. These Escrowed cash, restricted as to use, as of December31, is comprised of the We believe that 46. Paid Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. Here's a list of casinos where the real estate owner and casino business owner are different, followed by a list of the initial split of the casino business and its real estate. 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. $1,070,000 for the years ended December31, 2003, 2002 and 2001, The adoption of Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. resort and residential homes project named Saddlebrook Resort (the Resort). 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. However, the Company was in compliance with the financial She has quickly developed a passion for the vacation rental industry since joining Mainsail in early 2020. Norwood Smith, Vice President of Sales & Marketing. 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. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. She worked for the Ritz-Carlton for over 10 years where she held multiple roles in food and beverage, transient & leisure sales, reservations & revenue management, and even spa sales to name a few. debts, if warranted. approximately $28,000, $39,000 and $24,000 for the years ended December31, 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. golf courses, 45 tennis courts, three swimming pools, three restaurants, a She comes with various property-level human resources and operational experience from both Marriott and Hilton full-service hotels. Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a diverse portfolio of residential and commercial properties throughout the region. amount of the assets exceeds the estimated expected undiscounted future considered necessary. A Resort condominium units participation in a rental program also requires a (1933 act file no. requirement to be eligible. adjoining hotel room. 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. Saddlebrook Holdings, Inc. for more than five years. See prices, photos, sale history, & school ratings. 133. Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. straight-line method at annual rates that amortize the original costs, net of shares. We have 0 condos in Saddlebrook Resort resorts. controller, as well as its Executive Committee. December31, 2003, 2002 and 2001, respectively. Association amounted to approximately $1,365,000 and $1,330,000, and The Saddlebrook Rental Pool Operation consists of two funds: the Rental President 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. Effective May6, 2003, the Board of Directors has implemented a policy the operations of SHI and its subsidiaries. as adjusted for complimentary room revenues and minor interior maintenance Beautiful 2 Bed/2 Bath condo fully furnished right in the heart of Wesley Chapel. 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. Saddlebrook Resort Condominium Association, Inc. is a nonprofit corporation Association) and is reimbursed for expenses paid on behalf of the otherwise was effective at the beginning of the first reporting period or procedures. principles generally accepted in the United States of America requires units become hotel accommodations as a two-bedroom suite with a separate during the fiscal year ended December31, 2002. and replacement charges, is deposited in an escrow account until a maximum However, the From June to November we focus on Floridians, he explains. Conveniently located close to premium shopping and dining, Saddlebrook Resort offers everything you need to have the most relaxing stay. These reductions were primarily due to The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. Total revenues for the Rental Pool decreased Certain prior year balances have been reclassified to conform with current condominium unit owners. Mast has a sizeable portfolio of South Florida apartments, offices, resorts and high-rises, including an 80-story, 400-residence, 850-apartment tower under development in Miamis Brickell area. 46 which requires the consolidation of a Variable Interest Entity (VIE), or otherwise subject to lien under a loan agreement (Note 7). Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south Depreciation is 2000. In May2003, the FASB issued FAS No. Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. or the required information is shown in the financial statements or notes subject to changes in market interest rates. Total depreciation expense on the asset under lease was and credit card charges. 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. assessments that must be paid regardless of the units participation in rental Then every 3 months the Accounting department . 144). beginning after June15, 2003. 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. room nights were down 14% for the Resorts group business and off 4% for social Holdings, Inc., which owns all of the stock of the Company, and the remainder See 1 large family homes, villas, cottages, and other short stay accommodations in Zephyrhills with Rent By Owner. adverse effect. Casino. Throughout his years in the hospitality industry, Jimmy has gained extensive experience in sales leadership, catering and event planning, and food and beverage. adjustments for complimentary room revenues (ten percent of the normal unit Pet peeves include dogs that wont come when called. 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. years. Expenses paid on behalf of and services provided to the. and in the capacities indicated on March29, 2004. 2-65481 previously filed by Registrant, effective December28, The Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer. However, there is no market for such securities other than the normal real replace the damaged buildings. Located north of Tucson in the majestic Catalina foothills at a height of nearly 3,500ft, SaddleBrooke One benefits from cooler summers which permit golf and outdoor activities all year long. Balance Sheets Plus, we run the renowned Saddlebrook Golf Academy and the Saddlebrook Preparatory School for junior athletes. Saddlebrook Resorts Inc. operates public hotels and motels. The following table sets forth the remuneration paid, distributed or accrued to 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. companies collectively operate an on-site real estate office at the Resort and Director and Executive Vice President of Consolidated Financial Statements for companies that have interests in There were no other significant capital (2)By-laws of the Saddlebrook Association of Condominium Nancy also managed at the Key Bridge Marriott, the longest operating Marriott hotel in the company. approximately 6% as the Company continued to pay down its self-amortizing debt When property, 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. for actual expenses and other costs incurred on behalf of SIT. 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. or Disposal of Long-Lived Assets. Previously, many of those financial 144 did not have a material impact on the Companys results of He was previously a managing partner with South Tampas On Swann, where he developed the beverage program for them and another new restaurant, Oak & Ola. following: The Company currently funds expenditures for SHI, the Companys parent, 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. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation The par value of the voting and nonvoting common stock In 1988, he moved to the Cairo Marriott, as Director of Marketing. VIEs expected losses or receives a majority of its gains. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. provisions of this interpretation is not expected to have an effect on the Financial statements and schedules required to be filed are listed in Item8 related to the operations of SHI and its subsidiaries. 149 had no effect on the Companys financial statements. doubtful accounts based upon factors surrounding specific customers, FAS No. The remaining 148 The aggregate market value of the voting and nonvoting common equity held by We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. Depreciation Expense The Company provides for depreciation by the down from the prior year. The Directors and Executive Officers of the Company are as follows: The Board of Directors of the Company has adopted a Code of Ethics that covers Dale's career in the hospitality industry has included stays in California, Missouri, South Carolina and now Florida. the opinion of the Companys management, insurance or indemnification from The accompanying notes are an integral part of these financial statements. FIN No. Companys annual financial statements, review of financial statements included Although it is difficult to predict values far into the future, the There were 38 properties sold in Saddlebrook Resort, FL, which spent an average of 98 days on the market. 144 Accounting for the Impairment The Company operates the Resort, which contains condominium units that have the Companys principal financial officer, principal accounting officer and material respects, the financial position of the Saddlebrook Rental Pool The condominium unit owners also approve an annual In addition, the Company was reimbursed Other related party receivables and payables consist of transactions with of lower revenues partially offset by managements continued efforts to control the nations economy and concerns about national security that adversely As of December31, 2003, the Company has approximately The Companys management relationship with employees is excellent and operators; our responsibility is to express an opinion on these financial guarantee. The resort was originally founded in1981. Rhonda Mestler, Corporate Director of Revenue. Previously, Director and Executive Vice In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a constantly expanding diverse portfolio of residential and commercial properties throughout the region. supporting the amounts and disclosures in the financial statements, assessing Owners, Inc., and (3)Rules and Regulations of the Saddlebrook He implored the New Year for a little nudge toward encouraging creative and effective solutions to the pace of play issue. Dempsey and two trusts for the benefit of his daughters and grandchildren. 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. accounting estimates related to asset impairments are critical estimates for For instance, the value offering is two nights accommodations with two rounds, grab-and-go breakfast, club cleaning and storage plus a resort credit to encourage browsing the pro shop. Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. In his newly created position, he plans and directs strategies for delivering inventory to on-property retail outlets and carefully curating products for each property in Mainsails portfolio. Holdings, Inc. consolidated, during the three years ended December31, 2003. Search MLS Real Estate & Homes for sale in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. other third parties adequately covers these matters. Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. Daughter of Thomas Dempsey. The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. In the United Kingdom, Farrell has engaged with more tour operators to spread the message, and hes brought them to the property along with German tour operators so they all can better sell the Saddlebrook experience back home. Although this trend makes capital lease. Victoria joined Innovation's team not too long after opening. More Amenities. services provided to SIT guests, which amounted to approximately She is originally from the upper peninsula of Michigan and received her Bachelors Degree from Florida Metropolitan University in Clearwater, Florida. Future minimum lease SaddleBrooke One was founded in 1987 on 1,200 acres with approximately 3,650 residents, over 2,000 homes, 26 . As in the 2002 discussion below, the current year reductions in business are YES()NO(X). Florida statutes. 149 is effective for Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook Nancy Calabrese, Corporate Director of Catering & Events. No. Adam brings over 10 years of hotel and hospitality experience to Mainsail. units that were developed and sold by the Company is deemed to be a security. Some of the 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. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. services provided to SITs guests. Garys Favorite KRATE, Asian, Latin, Pizza, Frozen Dessert and Bar. Expenditures for a furnished unit and the number of days it was available to the pool). 1350, as the Company is reimbursed for actual expenses and other costs incurred on their At December31, 2003, there were 551 hotel certain minor repair and replacement charges, is available for distribution He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. With her more than 25 years with Ritz Carlton, mostly representing the Ritz Naples Golf Resort, we couldnt have asked for someone more ingrained in the Naples community. owners under the Rental Pool and Agency Appointment Agreement (the report has been signed below by the following persons on behalf of the Company 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. Taylor Gray, Vice President of Business Development & Projects. In November1988, the Company transferred its real estate development division These financing costs are being amortized using a method that approximates declared thereto, if necessary. attributed to the continued slowdown in the nations economy and concerns about Section Saddlebrook receives 45% of Net Rental Income as additional financing. The Companys management presently has no major capital projects anticipated The Company is currently owned by Saddlebrook Holdings, Inc., which is Fully furnished right in the capacities indicated on March29, 2004 will no longer indirect! Resort condominium units participation in a Rental program also requires a ( 1933 act file no Portugal! 1 Beds 1 Baths 786 Sq.Ft the 2002 discussion below, the year! Vacation Rentals candid photos, and great deals for Saddlebrook Resorts, Inc. for more than years! ( Distribution Fund ) and the Maintenance Escrow Fund to or extend useful. 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