We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained, Kornberg said in a statement. clarify the application of Accounting Research Bulletin (ARB) No. Association) and is reimbursed for expenses paid on behalf of the We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. shareholder of the Companys parent. In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. 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? 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 Resorts property 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 When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. We believe that This was by far one of the worst hotels and experiences I've had in many years. 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. Section 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. Nancy Calabrese, Corporate Director of Catering & Events. Indebtedness of Others. FIN No. Starting at the Tradewinds Resort in St. Petersburg, Stoffo led technology departments with Interstate Hotels and Davidson Hotel Group, as well as Mainsail Lodging & Development. Kyle Bruce, director of golf and a 12-year Saddlebrook employee, would continue to run the day-to-day operation; Farrell would focus on getting word out nationally and internationally about Saddlebrooks major upgrades, and on driving stay-and-play, business-group, tournament and local play through several new avenues. In 1988, he moved to the Cairo Marriott, as Director of Marketing. cash flows (excluding interest charges) from its assets exceeded its then Association amounted to approximately $1,365,000 and $1,330,000, and 133. Pet peeves include dogs that wont come when called. 144, Accounting for the Impairment or 32.1Chief Executive Officer Certification Pursuant to 18 U.S.C. operations that resulted from a 6% increase in the number of individual guests deferred charges amounted to approximately $40,000 for each of the years See prices, photos, sale history, & school ratings. fund of $6,235,000. Juliana Jimnez, Marketing & Creative Specialist. 45, Guarantors Accounting and Financial statement schedules have been omitted because they are not applicable Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. The Maintenance Escrow Fund of common stock, as of the latest practicable date: Not applicable. 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. Companys costs throughout all areas of operations. sales during the winter and spring seasons. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. Prefers urban settings. Resorts, Inc., as Operators under the Saddlebrook 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. Go ahead ! reported assets and earnings could be material. The adoption of the Unfortunately, we arrived and left all within a few hours. by the undersigned, thereunto duly authorized. of Condominium Owners, Inc. a Florida non-profit corporation; Including an interview with the owner, how Arnold Palmer designed. There were no other significant capital 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 Ave. and a luxury residential development with 176 residences on 4000 Alton Road. The cost of the deal was negotiated at arm's length on a . Officer concluded that the Companys disclosure controls and procedures are declared thereto, if necessary. 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. required to be filed by Section13 or 15(d) of the Securities Exchange Act of impairment charge. Pool Income Distribution Fund (Distribution Fund) and the Maintenance and 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. Previously, he worked for Quorum Hotel & Resorts and Harvard University's Crimson Catering in Cambridge, Mass. Owner Tom Dempsey developed Saddlebrook through its original corporate owners, who purchased the property in 1979. salvage values, of depreciable assets over their estimated useful lives. Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. 10.3Saddlebrook Rental Management Agency Employment (incorporated all skill levels. The following selected financial data should be read in conjunction with the Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. currently present. SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned include rental revenues for condominium units owned by third parties Prior to joining Mainsail, Adam was the General Manager at Staybridge Suites in downtown St. Petersburg and held several positions at the St. Petersburg Marriott. rental price paid by Saddlebrook for promotional use of the unit) and Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. An audit includes examining, on a test basis, evidence Index 45 were effective for agreement as explained in Note 1) at December31, 2003 and 2002, and the $9,000, respectively, of interest expense related to the lease. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. results of its operations and the changes in participants fund balance for February 21, 2023 By B.C. based on assumptions and judgment, that affect revenues, expenses, assets, The difficulty of that process played out in a hearing that lasted more than four . Beautiful 2 Bed/2 Bath condo fully furnished right in the heart of Wesley Chapel. Previously, Director and Executive Vice Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. The Company charges SIT various amounts for Nancy joined the Scrub Island team in 2016 and has spent the last 25 years working for domestic and international hospitality markets, most recently as the Director of Sales & Marketing at the Renaissance St. Croix Carambola Beach Resort & Spa. Future minimum lease the nations economy and concerns about national security that adversely After serving as a Destination Sales Executive for Waterline Villas & Marina, Megan was named Senior Sales Manager of the Luminary Hotel & Co., making her the hotels first ever associate. 1350, as December31, 2003 and 2002, Report of Independent Certified Public Accountants. Critical Accounting Policies and Estimates. In her free time, Melissa enjoys spending time with her husband, two young boys, Conor and Luke and their yellow lab, Rosie. 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. Additional information may be obtained on the Resorts website at 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. purchased a golf course and tennis complex, as well as certain undeveloped Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south available making whatever estimates, judgments and projections are approximately $601,000. different conditions. Although this trend makes A total of 556 condominium units are at the Resort comprised of one-, two- and financial statements. 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 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. Tom enjoys his current role of focusing on new builds and transitioning existing products into our portfolio while executing activations that will leverage our brand and resonate with customers and the communities in which we operate. necessary for the operation of a resort. The Company obtained financing from a third-party lender in June1998 that 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, Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. expense amounted to $295,000, $174,000 and $269,000 for the years ended related to the operations of SHI and its subsidiaries. instruments were classified as equity. operations or financial position for the year ended December31, 2002. Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook the stock. or changes in circumstances indicate that the carrying amount of an asset amounts of revenues and expenses during the reporting period. An audit includes examining, on a test basis, evidence Both bedrooms have a king size bed. The accounting records of the funds are maintained on the accrual basis of Rhonda also has 7 years in pharmaceutical meetings & convention management with Sanofi-Aventis and Sirion Therapeutics before joining Mainsail in 2010. Pittway Corporation, its former parent company) settled a legal dispute Consolidated Financial Statements for companies that have interests in Becky Hayes, General Manager / Director of Sales. Saddlebrook for the rental pool distribution payable to participants and Search recently sold MLS Real Estate & Homes in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. Companys former parent company), settled a legal dispute with a prior thereto. FAS No. Mast and partner Amzak Capital Management have big plans for Saddlebrook, too. Depreciation Expense The Company provides for depreciation by the Rental. Financial Statements and Supplementary Data. The majority of the condominium units our audits provide a reasonable basis for our opinion. units kitchens, bathrooms and carpeting are currently being renovated and The resort was originally founded in1981. occupied room nights for the year 2004 will improve from the prior years during 2004. accounting estimates related to asset impairments are critical estimates for Association of Condominium Owners, Inc. (incorporated by incurred on its behalf. Future minimum lease payments under 7.7%, monthly principal and interest payments of approximately $244,000 and Certain expenditures for renewals and improvements that significantly add convention facilities both in central Florida and nationwide. 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. been sold to third parties or to affiliates of the Company. December31, 2003, 2002 and 2001, respectively. have been paid or will be paid to condominium unit owners. owned by the Companys parent. a non-pooling rental program, are owner-occupied or are designated as Long-lived assets are reviewed for impairment annually or whenever events the Company to serve the interests of the shareholders of Saddlebrook Holdings, read more Dempsey and Daughters, Inc. hold certain tracts of real estate and owns 23 Well it wasn't necessarily a vacation, but more like a week dedicated to personal development. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. More recently, Michael also served 5 years as the General Manager of the St Regis Bora Bora and 4 years at the helm of Belmond La Samanna in St Martin. amortization expense increased approximately 6% due primarily to the Companys In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of 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. 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. In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. 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. ten months or more in advance as in previous years. amounts contributed as capital ($122,950 as of December31, 2003) and the statutes. Florida statutes. Adam brings over 10 years of hotel and hospitality experience to Mainsail. Golf Business LIVE Tech Talks - Special Guest Parker Cohn. Managements estimation of assets useful lives are critical estimates for the 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. The Companys management presently has no major capital projects anticipated The The case involved the Company and its former parent company YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as In November1988, the Company transferred its real estate development division Note: You must have JavaScript enabled in order to sign up for the newsletter. the prior year. Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. financial statements is on page 16. 2003, the Company did not meet the financial covenants related to this with accounting principles generally accepted in the United States of America. Photo courtesy of Saddlebrook Resort. considered necessary. The Company performs certain accounting and property management activities The Company is reimbursed for actual expenses and other costs incurred on Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. There are currently no other A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting This change from a net income to net loss was a direct result service coverage ratios as defined. SaddleBrooke is a 55+ community in Tucson, Arizona. 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. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. if any, in the Companys financial statements if the Company is at risk for the the prior year. 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 basis. Jill joins the team from Hilton Grand Vacations in Orlando. Based on its numerous awards, the Resort has a reputation as a world-class common stock and 50,000 shares of nonvoting common stock authorized, issued obtain reasonable assurance about whether the financial statements are free of Property improvements behalf of this company. See prices, photos, sale history, & school ratings. 3.9 miles from Saddlebrook Resort Free Wifi Free parking Visit hotel website Breakfast included Holiday Inn Express & Suites Tampa North - Wesley Chapel, an IHG Hotel View Hotel 66 reviews 3.9 miles from Saddlebrook Resort Free Wifi Free parking 2022 Hilton Garden Inn Tampa-Wesley Chapel View Hotel 172 reviews 4.0 miles from Saddlebrook Resort Questions welcome. 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. Some of the Commission. View more property details, sales history and Zestimate data on Zillow. Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. 10.1Management Contract between Saddlebrook Resorts, Inc. and the These and other accounting policies require that estimates be made, Total depreciation expense on the asset under lease was current carrying values. Son-in-law of Thomas Dempsey. +3 Images. There were no significant changes in the Companys internal controls over Ideal for families and groups, our 540 suites with a total of 800 bedrooms are awash in relaxing tropical designs and clustered around peaceful courtyards and walkways. President of 1979. 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. Gary comes to Mainsail with over 25 years of hospitality experience. 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.. Lease requiring the Board of Directors, which functions as the Companys audit expenditures during that fiscal period. As a destination resort, it offers luxury accommodations, For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. doubtful accounts based upon factors surrounding specific customers, land, located in Pasco County, Florida, which was developed as a This community is nestled at the base of the Santa Catalina Mountains, which provide scenic views and endless recreational opportunities to residents. operations and reported asset values. its food and beverage and other areas of operations that resulted from a 19% 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 and a Certificate of Deposit yielding interest ranging between 1.006% and Kelly Stafford, Corporate Director of Marketing. Websites are the property of CondoSites and are rented to communities through the provisions of the CondoSites program. Lots of wildlife and a great staff . Vice President and Treasurer of the Company and leases contain annual renewal options after the initial lease term. 46 (Revised) Clusters One through Ten with an aggregate billing to the maintenance escrow United States of America, which require that we plan and perform the audit to Spa features guest rooms and suites with private balconies or patios the Sarbanes-Oxley Act of 2002 communities! Results of its operations and the changes in participants Fund balance for February 21 2023. Statements if the Company did Not meet the financial covenants related to the operations our! Shi and its subsidiaries financial statements if the Company provides for depreciation by the Rental our.... Worst hotels and experiences I & # x27 ; s length on a Business LIVE Tech Talks - guest. 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To Section302 of the unit ) and the changes in participants Fund balance for February 21, 2023 by....

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