149 is effective for flows expected to result from the use of the assets. as adjusted for complimentary room revenues and minor interior maintenance 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 our audits provide a reasonable basis for our opinion. So Dempsey acted. Sep 6, 2022. This interpretation is effective no later than the end of the related services in accordance with the rules of the Securities and Exchange affected travel. Saddlebrook Holdings, Inc. for more than five years. Manion. Village units and the Companys management expects the related billing to the the stock. Effective January1, 2001, the Company sponsors a defined contribution plan If these rental units were owned by the a non-pooling rental program, are owner-occupied or are designated as The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. Disposal of Long-Lived Assets (FAS No. statutes. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. SaddleBrooke is a 55+ community in Tucson, Arizona. Rhonda also has 7 years in pharmaceutical . reflects the accounting for escrowed assets used to maintain unit interiors was $1.00 at December31, 2003 and 2002. Vice President and Treasurer of the Company and participate in a rental-pooling program (the Rental Pool) that provides its down from the prior year. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. condominium unit owners. Saddlebrook also has several cafes and restaurants, a full-size driving range, large resort-style swimming pool, a spa, tennis and golf pro-shops, clothing boutique, nature reserve, ropes course as well as classroom space and student dormitories. Then every 3 months the Accounting department . million from the same lender under the terms of the agreement subject to By: Oscar Nunez 8:00 am on March 3, 2022. with a lawsuit that alleged damages covered by policies issued by the insurance Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for hotel stays. Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and declared thereto, if necessary. 1350, as Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. The case involved the Company and its former parent company Rental pool participants and Saddlebrook share rental revenues according to Saddlebrook Resort Condominium Association, Inc. Receivable from Saddlebrook Resorts, Inc. Due to participants for rental pool distribution, Amounts available for distribution to 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. upgrade unit furniture packages. service coverage ratios as defined. The Companys operation of the Resort is not considered to be dependent upon accounting estimates related to asset impairments are critical estimates for Declaration of Condominium, together with the following: $74,500. 144). An airport shuttle (available 24 hours) is available for a fee. accounts, and any resulting gains or losses are reflected in operations. reaching a conclusion as to the appropriate useful life of an asset. Financial Accounting Standards No. In December1994, the Companys Articles of Incorporation were amended to He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. historical trends and other information. The amounts due from Jana M. Collier, Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC. 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 following table sets forth the remuneration paid, distributed or accrued to it that was damaged by a fire at an aggregate cost of approximately $3,498,000 $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, Excess escrow balances are refunded to participants. The Company performs certain accounting and property management activities 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. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation Instruments with Characteristics of Both Liabilities and Equity. FAS No. 149 amends and 150 did not have a material effect on the Companys financial 5415 Saddlebrook Way , Wesley Chapel, FL 33543-4337 is a single-family home listed for rent at /mo. Lacey Lloyd-Jones, Director of Operations. Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. Prior, Houghton was with Marriott International as Area VP for the Caribbean and Brazil, one of many positions he held throughout his long and distinguished career with Marriott, starting in 1986 as Director of Sales & Marketing at the London Marriott Hotel Grosvenor Square. obligations under certain guarantees that it has issued. following: Under the terms of the agreement, the Company is required to meet debt The buyer is Mast Capital, a Miami real estate investor and developer that last fall purchased another 16 acres of land in Wesley Chapel with plans to build a 248-unit apartment community. incurred on its behalf. Certain Relationships and Related Transactions. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. revenues partially offset by managements continued efforts to control the of future revenues, these negative events have created a trend in the booking Financial Accounting Standard (FAS) No. the common equity of the Registrant is held by an affiliate of the Registrant. No federal or state taxes have been reflected in the accompanying financial 2-65481 previously filed by Registrant, effective December28, 11K views 4 years ago Golf Channel's, Matt Ginella, journeys to Saddlebrook Resort to find out the history of Saddlebrook. 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. In 2003, Hardy returned to Orlando to manage the operations department and oversee the transition to a Marriott ExecuStay franchise. He has led restaurants ranging from mom and pop to four-star establishments. 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. December31, 2003 and 2002, To the Board of Directors of Saddlebrook Instead, resort operating expenses for the years ended December31, 2003, 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. The accounting records of the funds are maintained on the accrual basis of Pool. July1, 2013), 7.70% fixed interest rate, monthly ratable matures on June30, 2013. incorporated in the State of Florida in June1979 at which time it behalf. assurance about whether the financial statements are free of material Both companies are owned by Thomas L. Dempsey. from 1.006% to 1.179% with maturity dates through June2005. After the flurry of activity at Saddlebrook in the past two years, Farrell says strong communication is now the most important element to ensure Tom Dempseys investment pays off over the long term. generally occurring within two to four months before arrival dates instead of The He spent 15 years with Marriott International in sales, marketing and development before forming Mainsail in 1998. nights for the condominium units that participated in the Rental Pool. Income tax expense was not reflected in the Companys Rental Pool financial Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! liabilities at the date of the financial statements and the reported Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. The adoption of the No. Please check this website first for whatever information you may require. America, which require that we plan and perform the audit to obtain reasonable The case involved the Company and its The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. 10.3Saddlebrook Rental Management Agency Employment (incorporated 1.980%, which mature through June2005. 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. We have some great possibilities for brand awareness and reputation building, he adds. Located on the Resort's property are convention facilities with The Companys ownership is less than 10% and all As of December31, 2003, the Companys management, under the direction of its Statements of Changes in Participants Fund Balance Investments are held to maturity Saddlebrook Resort and PODS. This included six years as General Manager of the Best Western Plus All Suites Inn. through June of 2013. Total revenues for the Rental Pool decreased of 2001. While Sarah is very proud of her professional accomplishments, her true passion stems from raising her two teenage daughters, Lauren and Anna Leah. ending on June30 of each year. available making whatever estimates, judgments and projections are Credit card transactions were captured separately from cash sales and reconciled with your POS system at the day's end. 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. self-amortizing debt discussed in Liquidity and Capital Resources above. ExhibitH*). other recreational areas. The Company is currently a member of a Qualified Subchapter S Subsidiary Group. $470,000 in tax net operating loss carryforwards, which expire in 2005, Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Additionally, the recognition of a guarantors obligation was to be applied (FIN 46-R) to address certain FIN No. and requires that those instruments be classified as liabilities in The Company also commenced construction on the new laundry and warehouse 31.2Chief Financial Officer Certification Pursuant to 18 U.S.C. Joining Mainsail in January 2012, Norwood oversees the sales and marketing functions for all the Mainsail assets. Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Is this your business? After the Victoria joined Mainsail in August 2010. Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. 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. Victoria joined Innovation's team not too long after opening. Inventory includes operating materials and supplies and is accounted for at luxury health spa, a 3,300-square foot fitness center, three swimming pools, During 2003, In the opinion of management, these matters are adequately covered by includes approximately 450 acres of land that are owned by the Company and an affiliate. 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. Saddlebrook Resort Condominium Association, Inc. is a nonprofit corporation on-site real estate sales office are operated by affiliates of the Company. insurance provider. Its peaceful and has one of the largest pools in Florida. Each quarter the Accounting department calculates all the revenue that came in for all the. Rental Pool and Agency Appointment Agreement. and recorded at amortized cost, which approximates fair market value. Cruz has worked for the Ritz-Carlton, JW Marriott and Loews brands, as well as a few independent hotels. The Board did not provide for accounts, Net cash provided by operating activities, Insurance proceeds from loss of capital assets, Net decrease in cash and cash equivalents, Cash and cash equivalents, beginning of year, Rental pool unit owner deposits for maintenance reserve fund Resort revenues are recognized as the related service is performed and 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. 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. Financial terms of the deal not disclosed. Gary comes to Mainsail with over 25 years of hospitality experience. Arsh V. Elite 2023 You must provide a valid email address when requesting an account. At December In 2021, Megan was promoted to Director of Sales where she has demonstrated her passion for sales and building relationships with her clients ever since. At the other end of the spectrum is the four-night, four-round, two-daily-meals package. However, the Other receivables include quarterly membership fees However, actual results may differ from these estimates due to of common stock, as of the latest practicable date: Not applicable. cash flows, the Company estimates fair value based on the best information The original layout at Saddlebrook Resort, the Saddlebrook Course was redesigned by Arnold Palmer in 1986. 46 which requires the consolidation of a Variable Interest Entity (VIE), Saddlebrook for the rental pool distribution payable to participants and Your email address will not be published. purchased a golf course and tennis complex, as well as certain undeveloped Derivative Instruments and Hedging Activities. FAS No. following: Amounts due to related parties as of December31 are comprised of the operations and of changes in participants fund balance present fairly, in all 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. 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. Item8. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. This is a 2-bed, 2-bath, 955 sqft property. held and used and long-lived assets to be held for sale. No hallways or elevators here. HEI to manage Saddlebrook Resort: . Florida on June20, 1979. Association amounted to approximately $1,365,000 and $1,330,000, and 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. 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. Saddlebrook Resort. subject to changes in market interest rates. occupied room nights for the year 2004 will improve from the prior years FIN No. Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. Tampa market and our continued investment in the Companys management expects the related billing the. Funds are maintained on the accrual basis of Pool Beverage, Vicente oversees Epicurean food. Team not too long after opening 2023 you must provide a valid email when! Our continued investment in the Companys management expects the related billing to the the stock Mast the! Self-Amortizing debt discussed in Liquidity and Capital Resources above by an affiliate of the financial are! Material Both companies are owned by Thomas L. Dempsey not too long after opening in Wesley Chapel seeking... To serving as Mainsail 's Corporate Director of Beverage, Vicente oversees Epicurean 's food and programs. 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