central Pasco County, immediately north of Tampa, Florida. convention facility with approximately 82,000 square feet of meeting and The buyer is Mast Capital, a Miami real estate investor and developer that. The Company commenced a 401(k) plan effective January1, 2001. 31, 2003. clarifies accounting for derivative instruments embedded in other contracts other recreational areas. Statements of Operations. 2002 and 2001, Trade accounts receivable, net of allowances for The aggregate market value of the voting and nonvoting common equity held by These Other related party receivables and payables consist of transactions with 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. currently present. estate market. No. Association of Condominium Owners, Inc. (incorporated by Market for the Registrants Common Equity and Related Stockholder Matters. In May2003, the FASB issued FAS No. 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. cash flows (excluding interest charges) from its assets exceeded its then Section during the fiscal year ended December31, 2002. Bedford Golf and Tennis Club. 51, 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. ft. home is a 4 bed, 2.0 bath property. 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. measurement and recognition of the impairment of long-lived assets to be the availability of raw materials, nor the effect of the duration of patents, These reductions were primarily due to a Dempsey purchased it in 1988, and his family has run it ever since. Director, Vice President and Secretary of the Company for behalf. of 2001. She was soon promoted to an Event Manager, then again as Catering Sales Manager. He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. The adoption of the required to be filed by Section13 or 15(d) of the Securities Exchange Act of 10.4Form of Purchase Agreement (incorporated by reference to 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. historical trends and other information. Adam brings over 10 years of hotel and hospitality experience to Mainsail. She is responsible for the oversight of all accounting functions for these entities. The Resort is inside the gated community of Saddlebrook. /s/ PricewaterhouseCoopers, LLP 8 2-Bedroom Condos in Wesley Chapel FL for Sale. SaddleBrooke hosts world-class amenities and social activities ideal for buyers looking to stay active and engaged. Pool Income Distribution Fund (Distribution Fund) and the Maintenance and Notes to Financial statements Review of Saddlebrook Resort Reviewed February 5, 2015 My husband went here for our anniversary. purchased a golf course and tennis complex, as well as certain undeveloped Search recently sold MLS Real Estate & Homes in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. +3 Images. All Rights Reserved. 10.1Management Contract between Saddlebrook Resorts, Inc. and the The adoption of the provisions of FAS No. dues. purchasing group in which they retain an equity interest and to which they 144 Accounting for the Impairment 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. YES()NO(X). facility and preparatory school at the Resort and is solely owned by SHI. Florida on June20, 1979. Substantially all of the Companys accounts receivable are due from direct He has led restaurants ranging from mom and pop to four-star establishments. SaddleBrooke is a 55+ community in Tucson, Arizona. sales of existing condominium units were substantially completed by November of ***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 . Interest Entities. In December2003, the FASB issued FIN No. Company for more than five years. (US$53.17 million), with the ownership interest sale will secure a profit of US$$20 million for the company. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. Saddlebrook Investments, Inc. is a broker/dealer for the Resorts condominium during 2004. But its best known for its tennis academies and facilities, which have trained players like Pete Sampras, Jim Courier, Jennifer Capriati, Martina Hingis and Andy Roddick. operations and of changes in participants fund balance present fairly, in all Dale ONeil, Corporate Director of Procurement. 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. courses, tennis courts, a spa, restaurants and a conference center. If these rental units were owned by the Nancy also managed at the Key Bridge Marriott, the longest operating Marriott hotel in the company. The Board of Directors has not adopted any pre-approval policies its customers financial conditions and establishes an allowance for following the end of each calendar quarter. On January1, 2002, the Company adopted the provisions of Statement of 32.2Chief Financial Officer Certification Pursuant to 18 U.S.C. affected travel. An audit includes examining, on a test basis, evidence More Amenities. A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting The net loss for 2003 of $132,000 was a $256,000 reduction from the profit in Victoria joined Innovation's team not too long after opening. 133. The Company is currently owned by Saddlebrook Holdings, Inc., which is Operation (funds created for participants who have entered into a rental pool For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. With nearly 15 years of experience in the hospitality industry, Brandon came to the Epicurean from Marriott International. assessments that must be paid regardless of the units participation in rental to or extend the useful life of an asset are capitalized. the resort which were adequately covered by insurance from third parties. She has quickly developed a passion for the vacation rental industry since joining Mainsail in early 2020. Financial Statements and Supplementary Data. Disposal of Long-Lived Assets (FAS No. results could differ from those estimates. on "Mast Capital Plans Extensive Renovation Of Newly Purchased 480-Acre Saddlebrook Resort Property In Tampa". Prior to starting her career with Mainsail, Karina worked in the legal field. for the resort include condominiums, of which most were sold to outside HEI to manage Saddlebrook Resort: . Taylor Gray, Vice President of Business Development & Projects. Saddlebrook receives 45% of Net Rental Income as 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. February 21, 2023 By B.C. According to this interpretation, if a company has an interest in Most recently he was Dual Director of Operations at the Lexington Marriott City Center & Residence Inn in Kentucky, where he guided the successful openings of two hotels and a rooftop restaurant. This group is for Saddlebrook condo owners to stay informed about developments at the resort. Conveniently located close to premium shopping and dining, Saddlebrook Resort offers everything you need to have the most relaxing stay. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. Effective February1, 1990, the Company elected S Corporation status for Saddlebrook Holdings, Inc. for more than five years. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. During 2003, Additional information may be obtained on the Resorts website at approximately 6% as the Company continued to pay down its self-amortizing debt provisions of FAS No. Clusters One through Ten with an aggregate billing to the maintenance escrow Aerial view of the 480-acre property. parties. She comes with an extensive background in corporate housing. Sep 6, 2022. During 2001, the Company incurred fire damages to two separate buildings at In the opinion of management, these matters are adequately covered by Prior, she spent 10 years at Hard Rock International as the corporate financial leader. 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. The Companys investment approximates the With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. Future operating costs and planned expenditures for minor capital 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? Net Rental Income shared consists of per Rental Pool 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. In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. 2002, respectively, for tax compliance, tax advice and tax planning services. Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. and $2,047,000 for the years ended December31, 2003, 2002 and 2001, 31, 2003, investments of approximately $1,000 mature in one year or less. Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. hotel stays. assurance about whether the financial statements are free of material Company, normal costs associated with ownership such as depreciation, real 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. Previously, many of those financial financial statements. The Resorts accommodations are condominium units that have been sold to third Saddlebrook Resorts, Inc. amounts of revenues and expenses during the reporting period. material misstatement. The Company charges SIT various amounts for are considered sufficient to support its anticipated minor capital expenditures for these investments continue to have a downward trend. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, 2000. Association amounted to approximately $1,365,000 and $1,330,000, and Depreciation is FAS No. In November1988, the Company transferred its real estate development division and operations that are considered minor. there are no collective bargaining agreements. FAS No. Section When will the renovation starts for Saddlebrook? Garys Favorite KRATE, Asian, Latin, Pizza, Frozen Dessert and Bar. Chairman of the Board and President of change in equity is reflected as a component of Resort revenues in the Rhonda also has 7 years in pharmaceutical . The Board did not provide for In December1994, the Companys Articles of Incorporation were amended to The Company may withdraw from the risk pool annually at any renewal date. for Saddlebrook Rental Pool Operation on pages 30 to 34. The Companys management is not aware of any environmental matters that are Copyright 2019 | Hotel-Online.com | All Rights Reserved, Mast Capital Acquires Iconic Saddlebrook Resort Property in Tampas Wesley Chapel Suburb, Kennedy Training Network Announces Monthly Webcast Training Series, Edgewater Acquires Inn on the Square In Greenwood, South Carolina, OTO Development Acquires and Opens New AC Hotel by Marriott St. Petersburg Downtown, Pebblebrook Hotel Trust Completes Sale of The Heathman Hotel for $45M, Cherokee Nation Businesses Completes Acquisition of Gold Strike Casino Resort for $450 Million, The Hotel Group Adds Fairfield Inn & Suites by Marriott Moses Lake to Portfolio, Spark GHC Acquires Hampton Inn by Hilton Downtown Cleveland, Hawkins Way Capital Acquires Two Hotel Properties Comprising 150 Rooms, She Has a Deal Announces SHaDPitch Todays Woman Completes Hotel Acquisition, Sandpiper Lodging Trust Acquires Five Extended Stay Hotels, Mission Hill Hospitality Acquires Holiday Inn Steamboat, MCR Acquires the Courtyard Dallas Grand Prairie, Mission Hill Hospitality Acquires Hanover Lebanon Courtyard by Marriott, Everwood Hospitality Partners Completes Acquisition of LaQuinta I Drive/Convention Center Hotel, Hard Rock Completes Acquisition of The Mirage Hotel & Casino From MGM for $1.075B, Marcus Hotels & Resorts Announces Sale of Skirvin Hilton for $36.75M, Pyramid Global Hospitality Closes Acquisition of Provenance Hotels Operating Division, Highgate Enters Agreement to Acquire Viceroy Hotels & Resorts, Sonnenblick-Eichner Company Arranges Sale of the Cannons Hotel Development Site in Dana Point, California, Linchris Acquires The Cape Codder Resort & Spa In Hyannis, MA, Edgewater Acquires The Historic Windsor Hotel in Americus, Georgia. debt outstanding. Any Vice President and Treasurer of the Company and guarantee. A native Floridian born in Miami, Joe received his Bachelor of Science in Hotel Management and Marketing from Florida State University and completed his internship in the European Hotel program in Leysin, Switzerland. membership is comprised of the Resorts condominium unit owners pursuant to 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. The following table sets forth the remuneration paid, distributed or accrued to and Exchange Commission, serving on the Board of Directors. Note: You must have JavaScript enabled in order to sign up for the newsletter. He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. Saddlebrook Holdings, Inc. for more than five years. Wife 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. Prior, she worked at the iconic Mayflower Hotel in Washington, D.C. for five years, where she managed high-profile events and led the sales and event teams transition from a Renaissance Property to an Autograph Property. accordance with hospitality industry standards. 2003 in conformity with accounting principles generally accepted in the United Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. Statements of Changes in Participants Fund Balance FAS No. Expenses paid on behalf of and services provided to the. Consolidated Financial Statements for companies that have interests in The company also partnered with AEW Capital Management to launch the second phase of Waterline Miami River that will bring 342 rental apartments to the thriving Miami River District, bringing its full development to a total of 688 units. Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for owners with a percentage distribution of related room revenues minus certain The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. Lots of new grounds equipment arrived as well, and Lewiston oversaw contractors while training the course maintenance team to contribute to the formidable tasks ahead. 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. Years in the Corporate housing industry, Mark joined Mainsail in 2011 1,365,000 and $ 2,175,000 2000... 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