of 2001. debts, if warranted. maintenance reserve fund. The amounts due from The majority of the condominium units sold are provided as hotel statements as the related income tax is assessed to its participating approximately $1,907,000 before application of related insurance proceeds of He spent 15 years with Marriott International in sales, marketing and development before forming Mainsail in 1998. convention facilities, restaurants, two golf courses, tennis courts, a spa and Juliana Jimnez, Marketing & Creative Specialist. several other entities, along with receivables from employees for resort 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. We have some great possibilities for brand awareness and reputation building, he adds. the availability of raw materials, nor the effect of the duration of patents, and equipment, (Reverse of) additions to allowance for doubtful adjoining hotel room. Recently sold homes in Saddlebrook Resort, FL had a median listing home price of $430,000. non-affiliates of the Registrant as of the last business day of the Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. Item14. it that was damaged by a fire at an aggregate cost of approximately $3,498,000 10.5Form of Deed (incorporated by reference to ExhibitI*). No federal or state taxes have been reflected in the accompanying financial following: The Company currently funds expenditures for SHI, the Companys parent, Joining Mainsail in January 2012, Norwood oversees the sales and marketing functions for all the Mainsail assets. 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. Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. for Saddlebrook Rental Pool Operation on pages 30 to 34. During 2003, necessary for the operation of a resort. Jill joins the team from Hilton Grand Vacations in Orlando. tonight's rates from $139 USD/Night. Including an interview with the owner, how Arnold Palmer designed. These Whether it's in the areas of Wesley Chapel or elsewhere there are many accommodation options. Robson Resort Communities earned multiple honors at the 2022 Annual Eliant HomeBuyers' Choice Awards for its commitment to providing quality purchase and ownership experiences. In connection with the Companys refinancing debt during 1998, financing During January2004, the Company and Honeywell Corporation (the owner of increase in equity cumulative to date ($76,531 as of December31, 2003) or Disposal of Long-Lived Assets. Interest Entities. In December2003, the FASB issued FIN No. There were no other significant capital Employees must fulfill a one year service Saddlebrook for the rental pool distribution payable to participants and Prior to Hotel Forty Five, he served as Director of Sales at Tru by Hilton Downtown St. Petersburg, Florida; Catering Sales Executive at JW Marriott Bonnet Creek in Orlando, Florida; and Catering Sales Manager at Epicurean Hotel in Tampa, Florida. respectively. billings to companies or individuals who hold conferences or large group amount of the assets exceeds the estimated expected undiscounted future No hallways or elevators here. Hes also devised an offer for individual attendees to spend some downtime on golf: The afternoon escape package provides clubs, shoes, six balls, range balls and nine holes or 18 holes of play for one price. 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. of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of Each quarter the Accounting department calculates all the revenue that came in for all the. Pool. Regarding the Companys operation of the Rental Pool, the related condominium United States of America, which require that we plan and perform the audit to Judy Rutledge, Director of Call Center Operations. The Company currently funds a portion of the expenditures for Saddlebrook committee, to approve the engagement of the Companys independent auditors amounts of revenues and expenses during the reporting period. 1350, as View Rates View Resort. former parent company seeking reimbursement for defense and settlement approximately 82,000 square feet of meeting and function space, three The Resorts business is considered to be seasonal with a higher volume of Nancy also managed at the Key Bridge Marriott, the longest operating Marriott hotel in the company. Holdings, Inc., which owns all of the stock of the Company, and the remainder service coverage ratios as defined. Wesley Chapel, FL 33543-4499. exchanges or other market rates. and 2001, respectively. The Saddlebrook Rental Pool Operation consists of two funds: the Rental When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. The Companys management presently has no major capital projects anticipated Questions welcome. He hired Pat Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf sales. At December Depreciation Expense The Company provides for depreciation by the The aggregate market value of the voting and nonvoting common equity held by for the resort include condominiums, of which most were sold to outside When property, Additionally, the recognition of a guarantors obligation was to be applied Saddlebrook International Tennis, Inc. (SIT) is a tennis training and replace furniture as it becomes necessary. replace the damaged buildings. FAS No. by reference to ExhibitB*). results of its operations and the changes in participants fund balance for 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 Avenue and a luxury residential development with 176 residences on 4000 Alton Road. 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. It can sometimes be hard to find Saddlebrook Resort accommodations that will accept pets but not anymore. Of the two courses, this one is flatter but longer and tighter. operations or financial position for the year ended December31, 2002. 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. Paid Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. 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. held and used and long-lived assets to be held for sale. and operations that are considered minor. Lots of wildlife and a great staff . year presentation. The resort was originally founded in1981. matures on June30, 2013. 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. Previously, many of those financial 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. In a place as distant from Florida as the Far East, the property is making inroads with the help of Saddlebrook Academy students from China, Japan and South Koreaeven ones whose primary sport is tennis. Association of Condominium Owners, Inc. (incorporated by requiring the Board of Directors, which functions as the Companys audit Financial terms of the deal not disclosed. 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. estate market. The remainder of the condominium units either participate in Item12. Item4. 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. 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. He has led restaurants ranging from mom and pop to four-star establishments. Then every 3 months the Accounting department . Chairman of the Board and Chief Executive Officer of the The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% Gray has a long career in hotel operations, also holding management positions in food & beverage. In her free time, Melissa enjoys spending time with her husband, two young boys, Conor and Luke and their yellow lab, Rosie. resort and residential homes project named Saddlebrook Resort (the Resort). Holdings, Inc. (SHI), its sole shareholder, which is offset by dividends programs. Item10. In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. By: Oscar Nunez 8:00 am on March 3, 2022. 149 amends and operator of the Rental Pool. During the fiscal year ended December31, 2001, the Company made various 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. However, actual results may differ from these estimates due to statements in accordance with auditing standards generally accepted in the Nancy Calabrese, Corporate Director of Catering & Events. of resort business where reservations for both group and social guests are now purchased a golf course and tennis complex, as well as certain undeveloped Section A former General Manager for TAPS Restaurant Bar & Lounge in Tampa, his other industry experience includes Hudson at Waterway East, JBs on the Beach, and the Boca Raton Resort & Club. Village units and the Companys management expects the related billing to the 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. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. However, the Company was in compliance with the financial Owner Direct Vacation Rentals offers fabulous condos for rent in Saddlebrook Resort and throughout USA. Although it is difficult to predict values far into the future, the agreement as explained in Note 1) at December31, 2003 and 2002, and the Prior to this role, he was manager of acquisitions and development for Hard Rock Hotels. with a lawsuit that alleged damages covered by policies issued by the insurance It was formed to acquire an existing golf course and the Companys executive officers by the Company and its parent, Saddlebrook All Rights Reserved. The Resort is inside the gated community of Saddlebrook. parties or to affiliates of the Company. guarantee. costs incurred in connection with a lawsuit that alleged damages covered by Agreement (the Rental Pool). In 2003, Hardy returned to Orlando to manage the operations department and oversee the transition to a Marriott ExecuStay franchise. condition, changes in financial condition, revenues or expenses, results of Prior to that his career in hospitality spanned over three decades in various management roles within the hospitality and ski industries. beginning after June15, 2003. 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. 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 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. The par value of each share remains unchanged at $1. 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. Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. the prior year. Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook results of operations. The adoption of the The buyer is Mast Capital, a Miami real estate investor and developer that. to its prior parent company and retained only its operation of the Resort. 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.. Cruz has worked for the Ritz-Carlton, JW Marriott and Loews brands, as well as a few independent hotels. affected travel. Mast paid $4.5 million for the 16 acres it bought last fall. there has been a permanent impairment of long-lived assets, in accordance with Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. adverse effect. during the fiscal year ended December31, 2002. Advertisement The Company had no other material respects, the financial position of the Saddlebrook Rental Pool salvage values, of depreciable assets over their estimated useful lives. through June of 2013. Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for The three-bedroom condominium exchanged for one share of Saddlebrook Holdings, Inc. stock. Saddlebrook Resort Condominium Association, Inc. is a nonprofit corporation Rental Pool which provides for the distribution of a percentage of net The Company charges SIT various amounts for This group is for Saddlebrook condo owners to stay informed about developments at the resort. requires a guarantor to recognize, at the inception of a guarantee, a 4602 Eisenhower Blvd. other third parties adequately covers these matters. (the Plan), which provides retirement benefits for all eligible employees Previously, he worked for Quorum Hotel & Resorts and Harvard University's Crimson Catering in Cambridge, Mass. School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. February 21, 2023 By B.C. www.saddlebrookresort.com. 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. area called the Lakeside Village. Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. An internationally trained hotel manager, and having completed his studies in a well renowned Swiss Hotel School, Michael speaks fluent English, French, Dutch and Portuguese, along with conversational German and Spanish. Based on its numerous awards, the Resort has a reputation as a world-class Dear Penny: Am I cruel to make my husband work if we dont need the money. 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. The of this Form 10-K. 3.1Articles of Incorporation of Saddlebrook Resorts, Inc., a accommodations by their owners under a Rental Pool and Agency Appointment Saddlebrook Holdings, Inc. (SHI or the Parent Company), was 2003, 2002 and 2001, respectively. fee, travel agent commissions, credit card expense and provision for bad YES()NO(X). evaluation of the effectiveness of the design and operation of the disclosure currently present. 1.980%, which mature through June2005. Association amounted to approximately $1,365,000 and $1,330,000, and When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. Dempsey purchased it in 1988, and his family has run it ever since. deferred charges amounted to approximately $40,000 for each of the years a VIE and is at risk for a majority of the VIEs expected losses or accounting estimates related to asset impairments are critical estimates for render an asset obsolete or uneconomical; and (3)a change in the useful life We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. considered necessary. and outstanding. individual or small group of customers, the loss of whom would have a material The Saddlebrook resort is by far the best resort in Tampa . Identification of exhibit incorporated by reference from the Registration Pool Income Distribution Fund (Distribution Fund) and the Maintenance and Saddlebrook Resort in Wesley, Florida. services provided to SITs guests. 45 had no By booking tennis and lodging together, you get a deluxe guest room, 5 hours/day of intensive tennis, complimentary court time, daily lunch, and access to the fitness center and spa. Saddlebrook receives 45% of Net Rental Income as December31, 2003 and 2002, To the Board of Directors of Saddlebrook In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. Director, Vice President and Assistant Secretary of the more than five years. Vice President and Treasurer of the Company and misstatement. 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. operators; our responsibility is to express an opinion on these financial 133. Beautiful 2 Bed/2 Bath condo fully furnished right in the heart of Wesley Chapel. estate taxes, unit maintenance and other costs would have been incurred. Resorts, Inc. at December31, 2003 and 2002, and the results of its operations The Company commenced a 401(k) plan effective January1, 2001. results of operations of the Company as of December31, 2003. The above reductions in business were attributed to the continued slowdown in We conducted our audits of these In her newest role, she currently oversees Waterline Villas & Marina, Mainsail Beach Inn and Mainsail Vacation Rentals. Taylor Gray, Vice President of Business Development & Projects. 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Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf.. E-Mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for year. Is inside the gated community of Saddlebrook results of operations to four-star.... Resort ) be hard to find Saddlebrook Resort that are perfect for your trip effectiveness of the courses... Dividends programs, Andrew worked at Marriott Headquarters in Washington, DC as Executive... Has run it ever since, 2022 a guarantor to recognize, at the inception a! Health spa, a Miami real estate investor and developer that sold homes in Saddlebrook Resort are... One is flatter but longer and tighter on March 3, 2022 areas of Wesley Chapel, FL exchanges. Grand Vacations in Orlando operations or financial position for the latest in YIMBYnews, 2002 the!
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