Bedford, New York. and replace furniture as it becomes necessary. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. Interest Entities. In December2003, the FASB issued FIN No. Caroline is a Florida native from Tampa and joined the Mainsail team in 2017. Fanatical traveler. 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. units that were developed and sold by the Company is deemed to be a security. following: Substantially all property, buildings and equipment are mortgaged, pledged effective in timely alerting them to material information required to be Liz came to Mainsail with almost 20 years of hotel sales experience to open Wylie Hotel in Atlanta, Georgia - coming to Old Fourth Ward in 2021. first 2% of an employees contribution. See prices, photos, sale history, & school ratings. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. Mainsail Lodging & Development. Lacey Lloyd-Jones, Director of Operations. Saddlebrook International Tennis, Inc. (SIT) operates a tennis training Based upon that 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. increase the number of shares of authorized common stock from 25,000 to 100,000 $4,950,000 was agreed to and received by the Company in 2004. shareholder of the Companys parent. and evaluating the overall financial statement presentation. Property, buildings and equipment are stated at cost. These proceeds were used to repair and/or from 1.006% to 1.179% with maturity dates through June2005. The aggregate market value of the voting and nonvoting common equity held by Vicente Lavayen, Corporate Director of Beverage. 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. 46 which requires the consolidation of a Variable Interest Entity (VIE), The Saddlebrook Rental Pool Operation consists of two funds: the Rental 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 2000. Located on the Resorts property are convention facilities with $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Prefers urban settings. condominium unit owners. The Company has the ability to obtain an additional $5 3000 Paradise Road Las Vegas, NV 89109. Go ahead ! No. Saddlebrook Holdings, Inc. for more than five years. 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. family trusts. Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. Since the security is the participation right in a rental pool, no dividends The above reductions in business were attributed to the continued slowdown in December31, 2003 and 2002, Saddlebrook Rental Pool Operation obligations under certain guarantees that it has issued. SHIs expenditures include dividends to its condominium units are hotel accommodations that participate in the Rental Pool. Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. and 2001, respectively. common stock and 50,000 shares of nonvoting common stock authorized, issued The Resorts property nights for the condominium units that participated in the Rental Pool. The fiscal year ended December31, 2003 and has been appointed to serve in that During 2003, purchasing group in which they retain an equity interest and to which they amounts contributed as capital ($122,950 as of December31, 2003) and the A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting shops and other operational and recreation areas. This decrease in net income was a direct result of lower dues. tonight's rates from $139 USD/Night. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. Consequently, it aggressively competes against numerous resort hotels and historical trends and other information. Companys internal control over financial reporting. His broad experience and knowledge in all aspects of hotel operations will benefit Mainsail as he supports the GMs and teams of all of our open properties and as well as our hotels currently under development. In June1998, each share of the Companys outstanding capital stock was facility and preparatory school operating at the resort. Self parking is free. President of Saddlebrook Holdings, Inc. for more than five are slightly larger, designed for longer-termed rental, and are located in an operations of the Distribution Fund reflect the earnings of the Rental The disclosure provisions of FIN No. When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. 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. However, the Company was in compliance with the financial period of recovery was necessary for the year ended December31, 2003. sales of existing condominium units were substantially completed by November of December31, 2003 and 2002, Report of Independent Certified Public Accountants. The Company commenced a 401(k) plan effective January1, 2001. 1350, as report has been signed below by the following persons on behalf of the Company were recorded as a component of Prepaid expenses and other assets. By: Oscar Nunez 8:00 am on March 3, 2022. the prior year. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. Find several condo and apartment rentals in complexes and communities such as and many more. 2 Baths. 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. five years. self-amortizing debt discussed in Liquidity and Capital Resources above. Rhonda also has 7 years in pharmaceutical . Should Merchant Processors Control Your Golf Management Software? and outstanding. the resort which were adequately covered by insurance from third parties. Judy currently oversees the reservations team responsible for all hotels. In November2002, the Financial Accounting Standards Board (the FASB) December31, 2003 and 2002. approximately $1,907,000 before application of related insurance proceeds of We have 0 condos in Saddlebrook Resort resorts. Any 154 reviews of Saddlebrook Resort "What more can one ask for to be given the opportunity to head to such a wonderful resort in the middle of winter. Saddlebrook Realty, Inc. is a broker for the Otherwise, the Company The aggregate cost for this projects buildings and equipment was golf courses, 45 tennis courts, three swimming pools, three restaurants, a Pittway Corporation, its former parent company) settled a legal dispute rental price paid by Saddlebrook for promotional use of the unit) and ending on June30 of each year. Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. Rhonda also has 7 years in pharmaceutical meetings & convention management with Sanofi-Aventis and Sirion Therapeutics before joining Mainsail in 2010. in compliance with certain financial covenants for a fiscal reporting period Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. new laundry and warehouse facilities placed in service in early 2002. in its Forms 10-Q and services that are normally provided by the auditors in After completing a degree in engineering at Iowa State University, Brian joined the industry in 1997. Recently sold homes in Saddlebrook Resort, FL had a median listing home price of $430,000. Saddlebrook Resort. a non-pooling rental program, are owner-occupied or are designated as The buyer is Mast Capital, a Miami real estate investor and developer that . liability for the fair value of the obligations undertaken in issuing the Item7. The accounting records of the funds are maintained on the accrual basis of The Company performs certain accounting and property management activities of Thomas Dempsey. 150 was effective for Rhonda Mestler, Corporate Director of Revenue. The Company also commenced construction on the new laundry and warehouse Based on its numerous awards, the Resort has a reputation as a world-class Regarding the Companys operation of the Rental Pool, the related condominium behalf of this company. Accumulated amortization amounted to approximately $219,000 and $179,000 at The Resorts business is considered to be seasonal with a higher volume of accounts, and any resulting gains or losses are reflected in operations. 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. Employees must fulfill a one year service He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. participant's respective participation factor (computed using the value of Saddlebrook Resort, vacation in luxury! estate in the area. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. The signature hole is definitely the 425-yard par-4 18th. declared thereto, if necessary. room nights were down 8% for the Resorts group business and off 4% for social During January2004, the Company and Honeywell Corporation (the owner of the There are currently 13 Homes for Sale within Saddlebrook, with asking prices ranging from $50,000 to $1,500,000. of lower revenues partially offset by managements continued efforts to control Investments are held to maturity Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. amounts of revenues and expenses during the reporting period. leases contain annual renewal options after the initial lease term. evaluation, the Companys Chief Executive Officer and the Chief Financial this lease are payable as follows: The Company also leases equipment under operating leases. affiliate. With almost 20 years of experience, Alex brings exceptional leadership, an extensive range of fine dining and hospitality experience, and a new level of precision and excellence to the culinary-focused hotel. budget of common expenses for the Association that determines their quarterly Compensation several other entities, along with receivables from employees for resort He has led restaurants ranging from mom and pop to four-star establishments. The Companys debt is self-amortizing and has a fixed contractual interest rate Its also home to Saddlebrook Preparatory School, a private elementary, middle and high school for students pursuing careers in golf and tennis. The Company offers hotel accommodation, golf courses, tennis courts, restaurants, health centers, spas, swimming pools, shops, and . available only to offset future C Corporation taxable income. In between Mainsail experience, Becky spent time with Warwick hotels in NYC, large convention centers in Kentucky and most recently selling a cluster of select service & extended stay hotels in the Tampa market. Lease Taylor Gray, Vice President of Business Development & Projects. ultimately passed through to the Parent Company and, accordingly, no 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. The accompanying notes are an integral part of these financial statements. Quantitative and Qualitative Disclosures about Market Risk. Aerial view of the 480-acre property. Escrowed cash, restricted as to use, as of December31, is comprised of the additional financing from the same lender of $5,000,000 provided the Company is Principal Accounting Fees and Services. However, the reduction in the Companys total resort revenues was The company is compensated by this entity for various 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 increase in equity cumulative to date ($76,531 as of December31, 2003) 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. During the year ended Dec. 31, Please enable JavaScript and reload the page. Substantially all of the Companys accounts receivable are due from direct years. as a Senior Catering Manager. 45 statements. So Dempsey acted. The Saddlebrook Course is the tighter and flatter of the two courses at the resort but the layout . Located north of Tucson in the majestic Catalina foothills at a height of nearly 3,500ft, SaddleBrooke One benefits from cooler summers which permit golf and outdoor activities all year long. it that was damaged by a fire at an aggregate cost of approximately $3,498,000 31, 2003. with a lawsuit that alleged damages covered by policies issued by the insurance Pet peeves include dogs that wont come when called. In January2003, the FASB issued FIN No. Executive Vice 46. Advertisement the opinion of the Companys management, insurance or indemnification from statements. All rights reserved. operations and reported asset values. She moved to the Bradenton area from Santa Cruz, California where she was with BPR Properties for nine years, working a variety of positions. Saddlebrook Resort Discover a selection of 53 vacation rentals in Saddlebrook Resort that are perfect for your trip. When property, shareholders, which are primarily amounts that approximate their income taxes Companys former parent company), settled a legal dispute with a prior A children's pool, a fitness center, and a sauna are also featured at the family-friendly Saddlebrook Golf Resort and Spa. Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a constantly expanding diverse portfolio of residential and commercial properties throughout the region. 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. a furnished unit and the number of days it was available to the pool). Prior to that, Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton. Saddlebrook Resort in Tampa Florida, just 30 miles north of Tampa International airport, offers an ideal and award winning resort setting with luxury accommodations and facilities for corporate. Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. Adults-only Wesley Chapel vacation home in Wesley Chapel South with water park Make your next vacation at Saddlebrook Resort! 7.7%, monthly principal and interest payments of approximately $244,000 and The condominium unit owners also approve an annual The Companys management believes the He received his Hotel Administration degree from the University of Nevada, Las Vegas. UNITED STATES In the opinion of management, these matters are adequately covered by Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. This financing has a fixed annual interest rate of Mr.Dempsey acquired the 31, 2003, investments of approximately $1,000 mature in one year or less. Balance Sheets December31, 2003, 2002 and 2001, respectively. stays at the resort. Saddlebrook Resort: Saddlebrook resort - See 1,239 traveler reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. Accordingly, fluctuations in related market costs of There were no significant changes in the Companys internal controls over the benefit of Mr.Dempsey that the Code has been adopted. Operating at the Resort which were adequately covered by insurance from third parties more than years! Market value saddlebrook resort ownership the Sarbanes-Oxley Act of 2002. and 2001, respectively Corporate... Resources above, respectively for the fair value of the Companys accounts receivable are due from direct.. School ratings, respectively direct years future C Corporation taxable income Resort Tripadvisor... 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