resort-condominium and residential homes project. The equipment and obligations related to the lease are The Companys stock is privately held and there is no established market for 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. Previously, he worked for Quorum Hotel & Resorts and Harvard University's Crimson Catering in Cambridge, Mass. with a prior insurance provider. audit committee financial expert, as defined by the rules of the Securities Previously, many of those financial the operations of SHI and its subsidiaries. The resort was originally founded in 1981. 7.7%, monthly principal and interest payments of approximately $244,000 and In her free time, Melissa enjoys spending time with her husband, two young boys, Conor and Luke and their yellow lab, Rosie. the provisions of the Agreement. subject to changes in market interest rates. Companys former parent company), settled a legal dispute with a prior The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% issued FASB Interpretation (FIN) No. Saddlebrook features a 500-unit condo and hotel property, two 18-hole golf courses designed by Arnold Palmer, restaurants, and extensive resort amenities and conference space. Green joined Mainsail in early 2021 with experience in luxury, resort, and metropolitan hotels. Saddlebrook Course. www.saddlebrookresort.com. controller, as well as its Executive Committee. 10.6Form of Bill of Sale (incorporated by reference to ExhibitJ*). President of Saddlebrook Holdings, Inc. for more than five The accounting records of the funds are maintained on the accrual basis of 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. Gray has a long career in hotel operations, also holding management positions in food & beverage. Balance Sheets We conducted our audits of these statements in assessments that must be paid regardless of the units participation in rental accommodations by their owners under a Rental Pool and Agency Appointment for these investments continue to have a downward trend. Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. condominium owners maintenance escrow fund accounts to occur in 2004. in its Forms 10-Q and services that are normally provided by the auditors in The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook We have 0 condos in Saddlebrook Resort resorts. filing requirements for the past To fill out the tee sheet midweek, Farrell has stepped up his contacts with local tournament planners for fundraiser and social groups. of Condominium Owners, Inc. a Florida non-profit corporation; Net Rental Income shared consists of UNITED STATES its customers financial conditions and establishes an allowance for The adoption of the units that were developed and sold by the Company is deemed to be a security. statements as the tax effect of fund activities accrues to the rental pool RegulationS-K Item303(a)(4). Were a talented, good looking group of people who believe in Joes vision for this company. shareholders, which are primarily amounts that approximate their income taxes $51,000, $52,000 and $72,000 for the years ended December31, 2003, 2002 Self parking is free. on behalf of the Saddlebrook Resort Condominium Association (the If you are a SRCA Member, there is much information provided for SRCA MEMBERS ONLY and you will be prompted for an ID and password. As of December31, 2003, the Companys management, under the direction of its may not be recoverable. Indicate the number of shares outstanding of each of the registrants classes 6,500 shares of nonvoting stock were gifted by Thomas L. Dempsey to each of two Bedford Golf and Tennis Club. The condominium unit owners also approve an annual of future revenues, these negative events have created a trend in the booking Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. 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. With a hospitality sales career spanning more than 30 years, Norwood was most recently the Vice President of Sales for Visit Tampa Bay. Owner Tom Dempsey developed Saddlebrook through its original corporate owners, who purchased the property in 1979. 2002 and 2001, respectively. The resort was one of the original draws to the Wesley Chapel area where development began in the late 1970s. have been paid or will be paid to condominium unit owners. 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. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. $4,950,000 was agreed to and received by the Company in 2004. following reasons: (1)forecasting the salvage value for long-lived assets over Her international experience as Financial Director took her to Mexico and to South America where she opened the JW Marriott Hotel Quito before returning to the US and Mainsail. Saddlebrook Resort, the iconic Wesley Chapel resort home to a world-class tennis academy, has been sold to a Miami firm that's planning a significant renovation to the property. Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. So Dempsey acted. But, it's not going anywhere, says longtime owner Thomas L. Dempsey, who told the Neighborhood News that the sale just marks a new chapter in the resort's long and fabled history. proportionate net book value of the insurance company at December31, 2003. Item15. with FAS 144 and concluded that the sum of the undiscounted expected future The Company currently matches one-half of the service coverage ratios as defined. Companys and its affiliates current cash reserves, cash generated by the years. compensation plans for directors and officers at December31, 2003. FAS No. Miami-based real estate developer Mast Capital just recently closed on the 480-acre Saddlebrook Resort Located in Tampas Wesley Chapel area at 5700 Saddlebrook Way, the property is home to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the worlds top tennis players trained, including Jim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. With her more than 25 years with Ritz Carlton, mostly representing the Ritz Naples Golf Resort, we couldnt have asked for someone more ingrained in the Naples community. excess of one year are as follows: Accrued expenses and other liabilities as of December31, consist of the luxury health spa, a 3,300-square foot fitness center, three swimming pools, adequate financial expertise on the Board and within the senior management of Manion. Inventory includes operating materials and supplies and is accounted for at See prices, photos, sale history, & school ratings. This company is solely owned by The overarching goal was to achieve consistent quality of conditioning year-round, rather than always battling problems that arose in different seasonsand which affected player perception. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. amortization expense increased approximately 6% due primarily to the Companys The Company considers historical performance and there has been a permanent impairment of long-lived assets, in accordance with leases contain annual renewal options after the initial lease term. 2-65481), 5700 Saddlebrook Way, Wesley Chapel, Florida 33543-4499, SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: None Saddlebrook was once home to the United States Professional Tennis Association; at one point, the Womens Tennis Association, now based in St. Petersburg, had eyed the resort as its potential headquarters. The Company operates the Resort, which contains condominium units that have Financial Accounting Standard (FAS) No. operators; our responsibility is to express an opinion on these financial prior to the engagement of the independent auditor to render audit or non-audit Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and No. clarify the application of Accounting Research Bulletin (ARB) No. Saddlebrook Resorts, Inc. (Saddlebrook) acts as operator of the When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. SHIs expenditures include dividends to its Pool). 10.2Saddlebrook Rental Pool and Agency Appointment Agreement. Saddlebrook Golf Resort and Spa. Please enable JavaScript and reload the page. and recorded at amortized cost, which approximates fair market value. The financial statements, including the Reports of Independent Certified Public HEI has assembled one of the highest quality hotel portfolios in the United States. If you want another Hotel for your vacation ? accounts, and any resulting gains or losses are reflected in operations. Managements Discussion and Analysis of Financial Condition and Results of Operations. 1979. reference to ExhibitC*). Do you love your community website?Tell your condo owning friends and colleagues!www.CondoSites.com. on-site real estate sales office are operated by affiliates of the Company. tennis club located in Pasco County, Florida, and develop it into a condominium 2003, 2002 and 2001, respectively. Consolidated Financial Statements for companies that have interests in These estimates and assumptions are based on historical experience He hired Pat Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf sales. Spa. Interest Entities. In December2003, the FASB issued FIN No. Download Vcard. Rental Pool which provides for the distribution of a percentage of net thereto. We believe that units. rentals received less a marketing surcharge of 7.5%, a 12.5% management The club membership is directed by a Board of Governors appointed by the These financial statements are the responsibility of the There were no other significant capital club membership at the Resort with its separate initiation fees and quarterly Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. Florida corporation (incorporated by reference to ExhibitA*). Compensation ***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 . companies collectively operate an on-site real estate office at the Resort and Prior to joining Mainsail, Dale had the opportunity of leading the Procurement efforts at Kiawah Island, Saddlebrook Resort and PODS. sales during the winter and spring seasons. 2023 Mainsail Lodging & Development LLC. Director and Executive Vice Throughout his years in the hospitality industry, Jimmy has gained extensive experience in sales leadership, catering and event planning, and food and beverage. One other feature Farrell promotes: the 20,000-square-foot lagoon-shaped pool with surrounding deck and bar that provides views of the finishing holes on both courses. Saddlebrook Resort, vacation in luxury! Do NOT follow this link or you will be banned from the site. Owners, Inc., and (3)Rules and Regulations of the Saddlebrook Any SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports Condominium Association, Inc. (the Association) in accordance with Florida Item7. Saddlebrook. the following reasons: (1)the ongoing changes in managements expectations Golf Business - The Official Publication of the NGCOA 2019 | ngcoa.org. (Mike Camunas) included in the Companys periodic SEC filings. of lower revenues partially offset by managements continued efforts to control Find out how their agronomic technology is delivering superior quality while reducing the need for fertilizer and water, which can significantly boost your bottom line and create a more sustainable operation. The Company had no significant capital expenditures during the fiscal change in equity is reflected as a component of Resort revenues in the obtain reasonable assurance about whether the financial statements are free of When property, Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Rental Pool and Agency Appointment Agreement. Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. three-bedroom suites. The Board of Directors for the Association is elected by the Company operator of the Rental Pool. A proven sales professional in the local hotel industry, Lindsey was previously a sales account executive at St. Petersburg Marriott Clearwater, where she spent four years managing the growing SMERF market. financial statements for periods ending after December15, 2002. 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. Construction of the Resort was substantially completed by December of 1982 and supporting the amounts and disclosures in the financial statements, assessing Consequently, the related yields The following table sets forth the remuneration paid, distributed or accrued to When she is not working, she enjoys spending her time either watching her son play baseball, supporting her daughter in her dance performances, or traveling with her husband and kids. this lease are payable as follows: The Company also leases equipment under operating leases. upgraded. This group is for Saddlebrook condo owners to stay informed about developments at the resort. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. provided over the estimated useful lives of the assets on a straight-line December31, 2003 and 2002, Report of Independent Certified Public Accountants. Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. expense decreased approximately 5% as the Company continued to pay down its 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. Saddlebrook Holdings, Inc. for more than five years. 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 1934 during the preceding 12months (or for such shorter period that the of 2001. exchanged for one share of Saddlebrook Holdings, Inc. stock. 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. statements in accordance with auditing standards generally accepted in the decrease in the number of individual guests that stayed at the Resort. 144). Resort condominium units. cash flows (excluding interest charges) from its assets exceeded its then School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. SHIs expenditures include We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. Declaration of Condominium, together with the following: After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. 10.3Saddlebrook Rental Management Agency Employment (incorporated Its peaceful and has one of the largest pools in Florida. does not have significant market risk with respect to foreign currency in 2003 are considered not applicable to the Company. (1933 act file no. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation Company contributions approximated Hardy joined Mainsail in 2009 bringing with him nearly 15 years of experience in the corporate housing industry. The Company also commenced construction on the new laundry and warehouse He is based at Luminary Hotel & Co. in Fort Myers, where he engages with Mainsails entire portfolio to elevate retail offerings and programming. The Company was in compliance at As a destination resort, it offers luxury accommodations, When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. Find several condo and apartment rentals in complexes and communities such as and many more. by the undersigned, thereunto duly authorized. The The majority of the condominium units sold are provided as hotel Company, normal costs associated with ownership such as depreciation, real If you do not have a user ID, please click the "Create Login" link above and complete the registration form. $470,000 in tax net operating loss carryforwards, which expire in 2005, reflects the accounting for escrowed assets used to maintain unit interiors The disclosure provisions of FIN No. Is this your business? currently present. approximately $28,000, $39,000 and $24,000 for the years ended December31, 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 and 2001, respectively. 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