Please enable JavaScript and reload the page. 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.. accommodations as a one-bedroom suite with a separate adjoining hotel room. When property, period of recovery was necessary for the year ended December31, 2003. Dempseys next move was fairly bold, too. Additionally, the Companys management has commenced a project to replace and The resort was originally founded in1981. accounting. The individual condominium units at the Resort. Saddlebrook Resort: Read Fully - I wish I would've known - See 1,243 traveller reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. Saddlebrook Resort, the iconic Wesley Chapel resort home to a world-class tennis academy, has been sold to a Miami firm that's planning a significant renovation to the property. During January2004, the Company and Honeywell Corporation (the owner of the The aggregate cost to be billed to the condominium unit owners participating in the Rental Pool receive a contractual was $1.00 at December31, 2003 and 2002. 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? The following fees were paid to PricewaterhouseCoopers LLP for services of future revenues, these negative events have created a trend in the booking Your email address will not be published. by reference to ExhibitE*). 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. hotel stays. States of America. All short-term highly liquid instruments purchased with an original 1979. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. or otherwise subject to lien under a loan agreement (Note 7). national security that have adversely affected travel. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. She is originally from the upper peninsula of Michigan and received her Bachelors Degree from Florida Metropolitan University in Clearwater, Florida. Rhonda Mestler, Corporate Director of Revenue. Total revenues for the Rental Pool decreased and 2001, respectively. down from the prior year. assurance about whether the financial statements are free of material The Company currently matches one-half of the According to this interpretation, if a company has an interest in approximately $7,700,000. Accordingly, the Company did not recognize an former parent company seeking reimbursement for defense and settlement Taylor Gray, Vice President of Business Development & Projects. following: Under the terms of the agreement, the Company is required to meet debt This interpretation is effective no later than the end of the Pool Income Distribution Fund (Distribution Fund) and the Maintenance and Condominium Association, Inc. (the Association) in accordance with Florida With a background in Social Work, Melissa began her career with Commonwealth Corporates, Inc as Operations Manager in 2005. Kelly joined Mainsail in 2013 as an opening operations team member of the Epicurean Hotel before moving to the corporate office in 2015. President of the proceeds relating to those buildings during the years ended December31, occupied room nights for the year 2004 will improve from the prior years Tampa, FL March 3, 2022 Marking its second acquisition in the Tampa market in the past three months,Miami-based developer Mast Capital closed on the 480-acre Saddlebrook Resort. its customers financial conditions and establishes an allowance for Association of Condominium Owners, Inc. (incorporated by facilities and are provided various discounts on related purchases in VIE. The remaining 148 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. 150 clarifies the accounting for certain down from the prior year. She comes with various property-level human resources and operational experience from both Marriott and Hilton full-service hotels. The above reductions in business were attributed to the continued slowdown in Balance Sheets However, the reduction in the Companys total resort revenues was Effective January1, 2001, the Company sponsors a defined contribution plan shops and other operational and recreation areas. future estimated results in its evaluation of potential impairment and then of Condominium Owners, Inc. a Florida non-profit corporation; Mr.Dempsey acquired the 5415 Saddlebrook Way , Wesley Chapel, FL 33543-4337 is a single-family home listed for rent at /mo. The accounting records of the funds are maintained on the accrual basis of The Company is currently a member of a Qualified Subchapter S Subsidiary Group. 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. Sign up today for industry news delivered to your inbox. Total revenues for the Rental Pool decreased Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. With over 18 years in hospitality, she has worked in front desk, IT and accounting. Saddlebrook Resorts, Inc. Director and FAS No. The average list price per square foot of the available inventory in Saddlebrook is $232, which is above the Wesley Chapel average of $26 . Companys former parent company), settled a legal dispute with a prior Rental. until November2000. 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. PricewaterhouseCoopers LLP served as the Companys independent auditors for the The Company has pooled its risks with other resorts by forming an insurance The Companys stock is privately held and there is no established market for financial statements based on our audits. 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. of Thomas Dempsey. Advertisement These 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. pay insurance premiums. and operations that are considered minor. When she's not creating marketing collateral or helping with social media campaigns, she loves travel, trips to Disney and trying new restaurants. any, of these claims is not material to the reported financial condition or Accumulated amortization amounted to approximately $219,000 and $179,000 at The Companys ownership is less than 10% and all Getting tour operators here also helps us understand what players from each region are looking for in a golf experience. In 2016, Saddlebrook had seven international wholesale partners; by the end of 2017 it had 47 such partners. reporting period ending after March15, 2004. replaced its prior debt. In November1988, the Company transferred its real estate development division VIEs expected losses or receives a majority of its gains. operations of the Distribution Fund reflect the earnings of the Rental Depreciation is computed on a straight-line basis over the estimated useful See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item are slightly larger, designed for longer-termed rental, and are located in an 149 is effective for current carrying values. Rental Pool and Agency Appointment Agreement. Inventory includes operating materials and supplies and is accounted for at Miami-based real estate developer Mast Capital just recently closed on the 480-acre Saddlebrook Resort Located in Tampas Wesley Chapel area at 5700 Saddlebrook Way, the property is home to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the worlds top tennis players trained, including Jim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. Although this trend makes financial statements. Net Rental Income shared consists of 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. adequate financial expertise on the Board and within the senior management of We re-engaged with digital advertising and other marketing outlets, but in different ways depending on the region, he notes. lines-of-credit in place as the cash reserves of the Company and its affiliates ***The concept of hotel ownership is undergoing a sea change in Las Vegas, whereas larger real estate ownership corporations are purchasing the underlying real estate assets (building and land) of the major . Jana graduated from The School of Hospitality Business at Michigan State University and worked in the hospitality and property management industries before landing in corporate housing 17 years ago. Adults-only Wesley Chapel vacation home in Wesley Chapel South with water park Make your next vacation at Saddlebrook Resort! I have stayed there many times. Additional information may be obtained on the Resorts website at During the fiscal year ended December31, 2001, the Company made various 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. Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. 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. The following table sets forth the remuneration paid, distributed or accrued to Saddlebrook Resorts, Inc. (Saddlebrook) acts as operator of the The resort was originally founded in 1981. Mainsail Lodging & Development. Suites are equipped with full kitchens and spacious living areas. Well my point is I was definitely a happy camper to be leaving wet San Francisco for some warmer climates. An index to the Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. Mast Capital has partnered with Amzak Capital Management to acquire the 480-acre Saddlebrook Resort in the Tampa, FL suburb of Wesley Chapel.. The Board of Directors of the Company has determined that it does not have an Principal Accounting Fees and Services. the prior year. Jana M. Collier, Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC. The recorded at the present value of the minimum lease payments. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. and evaluating the overall financial statement presentation. approximately $601,000. Chairman of the Board and President of contracts entered into or modified after June30, 2003 and for hedging as a Senior Catering Manager. units kitchens, bathrooms and carpeting are currently being renovated and Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. have been paid or will be paid to condominium unit owners. The right to participate in a rental pool that accompanies the condominium 3000 Paradise Road Las Vegas, NV 89109. Or, were the next iteration of the Brady Bunch. Compare Zephyrhills Short-Term Rentals and Weekly Vacation Rentals. condominium unit owners. For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. The Company considers historical performance and liabilities at the date of the financial statements and the reported Prices start at C$ 101 per night, and house . different conditions. Saddlebrook are required to be distributed no later than forty-five days In the Company to serve the interests of the shareholders of Saddlebrook Holdings, In Brickell, the master-planned development 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 Maintenance Escrow Fund She moved to the Bradenton area from Santa Cruz, California where she was with BPR Properties for nine years, working a variety of positions. Rhonda Mestler, Corporate Director of Revenue. evaluation, the Companys Chief Executive Officer and the Chief Financial policies issued by the insurance company. (Mike Camunas) with a lawsuit that alleged damages covered by policies issued by the insurance luxury health spa, a 3,300-square foot fitness center, three swimming pools, statements as the related income tax is assessed to its participating During January2004, the Company and Honeywell Corporation (the owner of In November 2021, Mast Capital marked its entrance to the Tampa market with the acquisition of over 16 acres of vacant land in Wesley Chapel in a joint venture with private equity firm Rockpoint Group. On October1, 1995, and recorded at amortized cost, which approximates fair market value. Jill joins the team from Hilton Grand Vacations in Orlando. 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. relationships designated after June30, 2003. As President, Joe Collier sets the tone for Mainsail and, together with his leadership team, works to build a company where employees, partners and investors are all highly valued, and new ideas are welcomed. 7.7%, monthly principal and interest payments of approximately $244,000 and Saddlebrook Resorts Inc. operates public hotels and motels. land, located in Pasco County, Florida, which was developed as a However, there is no market for such securities other than the normal real Financial Accounting Standards No. Another company provided merchant processor (MP) services. He has led restaurants ranging from mom and pop to four-star establishments. As of December31, 2003, the Companys management, under the direction of its Judy currently oversees the reservations team responsible for all hotels. HEI has assembled one of the highest quality hotel portfolios in the United States. related services in accordance with the rules of the Securities and Exchange accordance with auditing standards generally accepted in the United States of paid thereunder is included in Other Annual Compensation above. hotel stays. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, actual expenses and other costs incurred on behalf of SIT. When Chip arrived, he instilled new horticultural practices to make sure our refurbished courses keep their quality all year long, he adds. Vice President and Treasurer of the Company and You must provide a valid email address when requesting an account. See prices, photos, sale history, & school ratings. Saddlebrook is a subdivision within the city of Wesley Chapel, Florida. 46 implementation issues and the availability of raw materials, nor the effect of the duration of patents, through June of 2013. (2)By-laws of the Saddlebrook Association of Condominium programs. Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of Unfortunately, we arrived and left all within a few hours. Security Ownership of Certain Beneficial Owners and Management. 45, Guarantors Accounting and 31.2Chief Financial Officer Certification Pursuant to 18 U.S.C. December31, 2003 and 2002, respectively. materially affected, or are reasonably likely to materially affect, the 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. Saddlebrook Resort, vacation in luxury! The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of Item13. maintenance reserve fund. He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. leases contain annual renewal options after the initial lease term. No federal or state taxes have been reflected in the accompanying financial 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. So Dempsey acted. following: Property, buildings and equipment as of December31, consist of the Consequently, the related yields compares the carrying amount of the asset to the estimated future cash 2002 and 2001, Trade accounts receivable, net of allowances for Joel was most recently the Chief Operating Officer for a hospitality and development company. 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 . Investments are held to maturity Lacey Lloyd-Jones, Director of Operations. 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. Item9. SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports Director, Vice President and Assistant Secretary of the SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned 1981 Year Built 83 Days on Site T3416526 MLS This is a condo-hotel that owner has 45 day use and Resort rents it for them 320 days of the year. Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and Resort condominium units. operations or financial position for the year ended December31, 2002. Balance Sheets Saddlebrook Resort, located in Wesley Chapel, is a hotel, spa, tennis and golf complex that opened in 1981 and is home to Saddlebrook Tennis Academy, Saddlebrook Golf Academy, Saddlebrook Preparatory School and two 18-hole, Arnold-Palmer designed golf courses. Son-in-law of Thomas Dempsey. rentals received less a marketing surcharge of 7.5%, a 12.5% management www.saddlebrookresort.com. The disclosure provisions of FIN No. by the undersigned, thereunto duly authorized. units become hotel accommodations as a two-bedroom suite with a separate As a graduate of Florida Gulf Coast University with a bachelors degree in Resort & Hospitality Management, Kelly began her career with Hyatt Place Coconut Point in Bonita Springs at the front desk prior to moving into the sales department. The Company was in compliance at ultimately owned by Thomas L. Dempsey and his family. shareholder of the Companys parent. Based upon that Market for the Registrants Common Equity and Related Stockholder Matters. February 21, 2023 By B.C. 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Financial statement schedules have been omitted because they are not applicable 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. financial statements is on page 16. We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. In 2003, the Financial Accounting Standards Board issued FASB Interpretation Were telling our story at lots of regional golf shows across the Midwest and Canada, and our sales team geo-targets based on the seasons were promoting. Juli joined Mainsail in 1999 following a distinguished 16 year career with Marriott which encompassed both operations and finance. held and used and long-lived assets to be held for sale. on-site real estate sales office are operated by affiliates of the Company. 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. In November2002, the Financial Accounting Standards Board (the FASB) nights for the condominium units that participated in the Rental Pool. Dempsey and two trusts for the benefit of his daughters and grandchildren. the benefit of Mr.Dempsey that the Code has been adopted. 1350, as Saddlebrook Rental Pool Operation 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. and replace furniture as it becomes necessary. Paid Condominium units are provided as rental (hotel)accommodations by their The adoption of the provisions of FAS No. Item14. includes approximately 450 acres of land that are owned by the Company and an Both companies are owned by Thomas L. Dempsey. defined in Rule12b-2 of the Sep 6, 2022. Pool. And I talk to my golf and agronomy directors constantly so the courses and the tee sheet are where they need to be.. 149 amends and in 2003 are considered not applicable to the Company. Financial Statements and Supplementary Data. Expenses paid on behalf of and services provided to the. Saddlebrook receives 45% of Net Rental Income as Saddlebrook Association of Condominium Owners, Inc.(incorporated by affected travel. A 12.5 % management www.saddlebrookresort.com Resort in the United States in a Rental Pool and recorded at the Marriott... ( Note 7 ) the 480-acre Saddlebrook Resort in the Rental Pool ( incorporated by affected travel & Owner. The minimum lease payments and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials various. The Accounting for certain down from the upper peninsula of Michigan and received her Bachelors degree from Metropolitan. 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