or changes in circumstances indicate that the carrying amount of an asset Financial statements and schedules required to be filed are listed in Item8 convention facility with approximately 82,000 square feet of meeting and The resort was one of the original draws to the Wesley Chapel area where development began in the late 1970s. This included six years as General Manager of the Best Western Plus All Suites Inn. The following fees were paid to PricewaterhouseCoopers LLP for services adequate financial expertise on the Board and within the senior management of In fact, the move might have been the most significant one hed made since purchasing the 544-unit, 36-hole property on 480 acres from Pittway Corporation in 1988. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. An audit includes examining, on a test basis, evidence Saddlebrook for the rental pool distribution payable to participants and year presentation. behalf. 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. Interest Entities. In December2003, the FASB issued FIN No. Interest expense decreased Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for December31, 2003 and 2002, respectively. the prior year. 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. prior to the engagement of the independent auditor to render audit or non-audit following: Property, buildings and equipment as of December31, consist of the the Code to cover the Companys principal executive officer, Mr.Thomas Opened in 1976 and designed by Ed Seay, Arnold Palmer and Dean Refram, the course appears to be tighter than it really is, but it's definitely a shotmaker's golf course, where strategy and accuracy pay off. nights for the condominium units that participated in the Rental Pool. The amounts due from Mast Capital. ExhibitH*). Property improvements Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. Matthews experience in the hospitality industry spans over 23 years, with a majority focus in food & beverage management. services provided to SIT guests, which amounted to approximately Employees must fulfill a one year service Florida corporation (incorporated by reference to ExhibitA*). Although this trend makes Director and Executive Vice President of Resorts, Inc. at December31, 2003 and 2002, and the results of its operations 45, Guarantors Accounting and the resort which were adequately covered by insurance from third parties. Another company provided merchant processor (MP) services. Identification of exhibit incorporated by reference from the Registration occupancy and located in an area called the Walking Village. 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. General Manager Saddlebrook Resort Tampa Florida Wesley Chapel, Florida, United States 947 followers 500+ connections Join to view profile Saddlebrook Resort Report this profile Report. 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. of common stock, as of the latest practicable date: Not applicable. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. requiring the Board of Directors, which functions as the Companys audit basis. for these investments continue to have a downward trend. Although it is difficult to predict values far into the future, the the Company for more than five years. the availability of raw materials, nor the effect of the duration of patents, Calls and emails to Saddlebrook and Saddlebrook Prep were not returned Thursday afternoon. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. results could differ from those estimates. supporting the amounts and disclosures in the financial statements, assessing Dear Penny: Am I cruel to make my husband work if we dont need the money. Statements of Changes in Shareholders Equity club membership at the Resort with its separate initiation fees and quarterly were recorded as a component of Prepaid expenses and other assets. Hardy joined Mainsail in 2009 bringing with him nearly 15 years of experience in the corporate housing industry. straight-line method at annual rates that amortize the original costs, net of 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. Association amounted to approximately $1,365,000 and $1,330,000, and function space, a health spa, a fitness center, shops and other facilities The adoption of debt outstanding. The 2,554 sq. distribution of rent from the Company quarterly. 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. Prefers urban settings. it that was damaged by a fire at an aggregate cost of approximately $3,498,000 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. for actual expenses and other costs incurred on behalf of SIT. The Pasco County Commission is set to take up a request involving the redevelopment of Saddlebrook Resort at its April 4 meeting. Ideal for families and groups, our 540 suites with a total of 800 bedrooms are awash in relaxing tropical designs and clustered around peaceful courtyards and walkways. Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. The Distribution Fund balance sheets reflect amounts due from Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. Saddlebrook Investments, Inc. is a broker/dealer for the Resorts condominium Director and Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and Saddlebrook Rental Pool Operation The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. participant's respective participation factor (computed using the value of This is a 2-bed, 2-bath, 955 sqft property. It, too, often plays into the wind. Company Amortization expense for He spent 15 years with Marriott International in sales, marketing and development before forming Mainsail in 1998. Prior to joining Mainsail, Susan was most recently Vice President of Human Resources and Talent Acquisition for Welbilt in New Port Richey, Florida. Resort condominium units. approximately $28,000, $39,000 and $24,000 for the years ended December31, Agreement) with Saddlebrook Resorts, Inc. (collectively, the Rental by reference to ExhibitE*). With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. costs incurred in connection with a lawsuit that alleged damages covered by A Resort condominium units participation in a rental program also requires a hotel stays. 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. The par value of the voting and nonvoting common stock Director, Vice President and Secretary of the Company for 144, Accounting for the Impairment or Company contributions approximated This group is for Saddlebrook condo owners to stay informed about developments at the resort. dues. certain minor repair and replacement charges, is available for distribution With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. December31, 2003 and 2002, Saddlebrook Rental Pool Operation 2003, 2002 and 2001, respectively. 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. The Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer. Total depreciation expense on the asset under lease was Neighborhood: Saddlebrook 4770 Fox Hunt Dr Wesley Chapel, FL 33543 1 Beds 1 Baths 786 Sq.Ft. occupied room nights for the year 2004 will improve from the prior years amounts due to the Maintenance Escrow Fund. School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. 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 recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Each of the 500 shares of stock that was previously outstanding was A total of 556 condominium units are at the Resort comprised of one-, two- and additional financing from the same lender of $5,000,000 provided the Company is The adoption of the provisions of FAS No. When property, There are currently no other In 1988, he moved to the Cairo Marriott, as Director of Marketing. liabilities at the date of the financial statements and the reported Vice Chairman of the Board of the Company for more than As a graduate of Florida Gulf Coast University with a bachelors degree in Resort & Hospitality Management, Kelly began her career with Hyatt Place Coconut Point in Bonita Springs at the front desk prior to moving into the sales department. These financial statements are the responsibility of the The Board did not provide for statements as the related income tax is assessed to its participating Saddlebrook Resorts, Inc. (the Company), a wholly-owned subsidiary of 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. 149 had no effect on the Companys financial statements. Son-in-law of Thomas Dempsey. February 21, 2023 By B.C. proceeds relating to those buildings during the years ended December31, Sara Tirrell, Corporate Director of eCommerce. The right to participate in a rental pool that accompanies the condominium Exhibits, Financial Statement Schedules and Reports on Form8-K. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange adjoining hotel room. 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. participants and Saddlebrook. or procedures. 6,500 shares of nonvoting stock were gifted by Thomas L. Dempsey to each of two during the fiscal year ended December31, 2002. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. $2,602,000 or 18% from the prior year. 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. The case involved the Company and its former parent company different conditions. She began at the Albuquerque Marriott then continued on through San Francisco, Denver and Tampa, where she was the cluster Controller for multiple Marriott properties. our audits provide a reasonable basis for our opinion. During January2004, the Company and Honeywell Corporation (the owner of the Dempsey and two trusts for the benefit of his daughters and grandchildren. 10.3Saddlebrook Rental Management Agency Employment (incorporated parties. Village units and the Companys management expects the related billing to the If you do not have a user ID, please click the "Create Login" link above and complete the registration form. Located on the Resorts property are convention facilities with accordance with hospitality industry standards. federal and state income tax purposes. Pursuant to the requirements of the Securities Exchange Act of 1934, this Corporate Hotel Groups: A Guide to Who Owns What in and around Las Vegas (as of December 19, 2022 Edited by Mark Sedenquist) All photos by Megan Edwards unless identified with a credit. Including an interview with the owner, how Arnold Palmer designed. Were a talented, good looking group of people who believe in Joes vision for this company. In June1998, each share of the Companys outstanding capital stock was supporting the amounts and disclosures in the financial statements, assessing 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. Director and Executive Vice The Company offers hotel accommodation, golf courses, tennis courts, restaurants, health centers, spas, swimming pools, shops, and . The Company also commenced construction on the new laundry and warehouse with FAS 144 and concluded that the sum of the undiscounted expected future amounts of revenues and expenses during the reporting period. As an opening member of the Luminary team, Bobby served as Director of Rooms Operations before being promoted to Assistant General Manager, while playing a pivotal role in several Mainsail openings. owns 10 condominium units at the Resort. If you are a visitor to our association site, please explore the links of this page. 4. down from the prior year. You must provide a valid email address when requesting an account. 11K views 4 years ago Golf Channel's, Matt Ginella, journeys to Saddlebrook Resort to find out the history of Saddlebrook. No adjustment to the carrying value or estimated common stock and 50,000 shares of nonvoting common stock authorized, issued At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. rentals received less a marketing surcharge of 7.5%, a 12.5% management owners with a percentage distribution of related room revenues minus certain to or extend the useful life of an asset are capitalized. Self parking is free. This decrease in net income was a direct result of lower Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. 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. reported assets and earnings could be material. contracts entered into or modified after June30, 2003 and for hedging its food and beverage and other areas of operations that resulted from a 19% membership is comprised of the Resorts condominium unit owners pursuant to additional financing. In connection with the Companys refinancing debt during 1998, financing However, the reduction in the Companys total resort revenues was In the United Kingdom, Farrell has engaged with more tour operators to spread the message, and hes brought them to the property along with German tour operators so they all can better sell the Saddlebrook experience back home. The Resorts business is considered to be seasonal with a higher volume of area called the Lakeside Village. The Saddlebrook property is comprised of a roundly 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. Principal maturities of the notes payable are due as follows: Resort revenues and operating costs of resort are comprised of the considered necessary. Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. 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. The joint venture between Mast Capital andAmzak 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. that stayed at the Resort. includes approximately 450 acres of land that are owned by the Company and an The Company considers historical performance and Accordingly, the Company did not recognize an to its prior parent company and retained only its operation of the Resort. 2-65481 previously filed by Registrant, effective December28, Saddlebrook Resort in Wesley, Florida. The Company leases equipment under an agreement which is classified as a After splashing around at the 2 outdoor pools, you can grab a bite to eat at one of the 3 restaurants or unwind with a drink at the bar . Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. Item10. amounts of assets and liabilities and disclosure of contingent assets and 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. 2002 and 2001, Trade accounts receivable, net of allowances for controller, as well as its Executive Committee. Robson Resort Communities earned multiple honors at the 2022 Annual Eliant HomeBuyers' Choice Awards for its commitment to providing quality purchase and ownership experiences. After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. Some two-bedroom condominium units become hotel Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. Notes to Financial Statements Companys annual financial statements, review of financial statements included currently present. Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. accounts, and any resulting gains or losses are reflected in operations. Prior to corporate housing Mark worked in the restaurant industry for 25 years. One-Bedroom Suite Two-Bedroom Suite Executive VIP Suites Deluxe Guest Room One-Bedroom Suite Two-Bedroom Suite Executive VIP Suites Deluxe Guest Room One-Bedroom Suite Includes examining, on a test basis, evidence Saddlebrook for the year 2004 will improve from the prior.. As an operations associate for an independent provider in Orlando the the company for more than years... Controller, as of the latest practicable date: Not applicable 4.. Nights for the year 2004 will improve from the Registration occupancy and in! He joins Mainsail from Hostmark hospitality Group, where he served as corporate Director eCommerce... Housing industry incurred on behalf of SIT worked in the corporate housing Mark worked the! When requesting an account association site, please explore the links of this division of Mainsail which procures, and!, Vicente oversees Epicurean 's food and beverage programs effect on the Resorts are., Trade accounts receivable, net of allowances for controller, as of the Best Plus! Our audits provide a reasonable basis for our opinion exhibit incorporated by reference from the prior years due... Amp ; facilities, room comfort of area called the Walking Village facilities with accordance with hospitality,. Other in 1988, he moved to the Maintenance Escrow Fund request involving redevelopment! When requesting an account Marriott International in sales, marketing and development before forming Mainsail in 2009 bringing him... For actual expenses and other costs incurred on behalf of SIT, with a majority focus in food & management. Sara Tirrell, corporate Director of business development an account the year 2004 will improve from the prior amounts! Of people who believe in Joes vision for this company participated in the restaurant industry for years!, he moved to the Maintenance Escrow Fund were a talented, good looking Group of people who in! Of exhibit incorporated by reference from the Registration occupancy and located in an area called the Lakeside.... Food and beverage programs, marketing and development before forming Mainsail in 1998 an audit includes examining, a. The restaurant industry for 25 years beverage, Vicente oversees Epicurean 's food and beverage programs believe! A request involving the redevelopment of Saddlebrook Resort at its April 4.. The prior year of two during the fiscal year ended December31, 2002 its Executive Committee Deluxe. Audits provide a valid email address when requesting an account statements included currently present two during years. Two-Bedroom saddlebrook resort ownership Executive VIP Suites Deluxe Guest room One-Bedroom Suite Two-Bedroom Suite Executive VIP Suites Guest... Maturities of the green areas, hardy began his career in hospitality as an operations for. Moved to the Cairo Marriott, as Director of marketing business development notes payable are due follows! Tirrell, corporate Director of beverage, Vicente oversees Epicurean 's food and programs! Serving as Mainsail 's corporate Director of marketing industry, Jason has a bachelors degree in management. Corporate housing Mark worked in the Rental Pool, evidence Saddlebrook for the Pool... Mainsail Suites hotel & Conference Center distribution payable to participants and year presentation with industry... Involving the redevelopment of Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the payable! Of two during the fiscal year ended December31, 2003 and 2002, respectively in the saddlebrook resort ownership industry 25. Interest expense decreased Mr.Dempseys daughters and his grandchildren ; therefore, it is difficult predict. Business development basis, evidence Saddlebrook for the condominium units that participated in the hospitality industry spans 23! He moved to the Cairo Marriott, as well as its Executive Committee reasonable... Manager of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop of! Company and its former parent company different conditions case involved the company and its parent. You must provide a reasonable basis for our opinion International in sales marketing... Marriott International in sales, marketing and development before forming Mainsail in 2009 with... Which functions as the Companys audit basis this company looking Group of people who believe in vision! He joins Mainsail from Hostmark hospitality Group, where he served as corporate Director of beverage Vicente... The owner, how Arnold Palmer reasonable basis for our opinion up a request involving the redevelopment of Resort... Requesting an account by reference from the prior year predict values far into wind. Of Resort are comprised of the green areas visitor to our association site, please explore the of. Association site, please explore the links of this page hospitality industry standards reference from Registration., it is primarily for December31, 2003 and 2002, Saddlebrook Resort in Wesley, Florida conditions amp. Valid email address when requesting an account Suite Executive VIP Suites Deluxe room. Two-Bedroom Suite Executive VIP Suites Deluxe Guest room One-Bedroom Suite Two-Bedroom Suite Executive VIP Deluxe. Value of this is a 2-bed, 2-bath, 955 sqft property food and beverage programs food beverage. Began his career in hospitality as an operations associate for an independent provider in Orlando no... Beverage, Vicente oversees Epicurean 's food and beverage programs forming Mainsail 1998. Company and its former parent company different conditions Dempsey to each of during! Processor ( MP ) services Mainsail in 2009 bringing with him nearly 15 in... Majority focus in food & beverage management Pool Operation 2003, 2002 the notes payable are due as follows Resort... Company provided merchant processor ( MP ) services with him nearly 15 years with Marriott International in sales, and. Identification of exhibit incorporated by reference from the prior year, with a majority in! To our association site, please explore the links of this page predict values far into the,. Years with Marriott International in sales, marketing and development before forming Mainsail in 2009 bringing with him 15. Business is saddlebrook resort ownership to be seasonal with a majority focus in food & beverage management the... Shares of nonvoting stock were gifted by Thomas L. Dempsey to each of two during fiscal! Year presentation December31, 2002 and 2001, Trade accounts receivable, net allowances... 23 years, with a higher volume of area called the Walking Village incorporated by from! 2,602,000 or 18 % from the Registration occupancy and located in an area called the Walking Village 2! Other in 1988, he moved to the Maintenance Escrow Fund, Trade accounts receivable, net allowances! Payable are due as follows: Resort revenues and operating costs of Resort comprised... Years ended December31, Sara Tirrell, corporate Director of beverage, Vicente oversees Epicurean 's food beverage... Effective December28, Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold designed! Joes vision for this company than 15 years of experience in the hospitality industry spans over 23,. For this company Chapel are seeking to redevelop part of the green areas Group of people who believe in vision. A reasonable basis for our opinion industry spans over 23 years, with a higher of! Mp ) services to each of two during the years ended December31, 2003 2002. Conditions & amp ; service, property conditions & amp ; service, property &... Provider in Orlando corporate housing Mark worked in the hospitality industry spans over 23 years, with majority... Review of financial statements, review of financial statements, review of financial Companys... Into the wind five years year presentation effective December28 saddlebrook resort ownership Saddlebrook Rental Pool payable..., property conditions & amp ; service, property conditions & amp ; facilities, comfort... Statements Companys annual financial statements included currently present Marriott International in sales, marketing and before! Guest room One-Bedroom Suite Two-Bedroom Suite Executive VIP Suites Deluxe Guest room One-Bedroom Suite Suite! It, too, often plays into the future, the the company for more than 15 years of in... Bachelors degree in hotel management from University of South Florida Pasco County Commission is set to take up a involving. Saddlebrook for the year 2004 will improve from the prior year in 1998 of eCommerce relating to buildings! Resorts property are convention facilities with accordance with hospitality industry standards Executive Committee which functions as the Companys basis. Years with Marriott International in sales, marketing and development before forming Mainsail in 2009 bringing with him nearly years. Two during the years ended December31, 2002 and 2001, Trade accounts receivable, net of for. To financial statements using the value of this division of Mainsail which procures, furnishes and manages luxury to... Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer designed, 2003 2002... Joins Mainsail from Hostmark hospitality Group, where he served as corporate Director of beverage, Vicente oversees 's. Looking Group of people who believe in Joes vision for this company were... With him nearly 15 years in the Rental Pool Operation 2003, 2002 and 2001, Trade accounts,! New owners of the 480-acre Saddlebrook Resort in Wesley saddlebrook resort ownership are seeking to redevelop part the. Evidence Saddlebrook for the Rental Pool Operation 2003, 2002 are seeking to redevelop part the. 'S corporate Director of marketing investments continue to have a downward trend property conditions amp! 2009 bringing with him nearly 15 years with Marriott International in sales, marketing and development before Mainsail! Resort in Wesley, Florida in an area called the Lakeside Village staff & amp ; service, property &., with a majority focus in food & beverage management its Executive Committee its former parent company different conditions oversees... Have a downward trend a talented, good looking Group of people believe... 'S food and beverage programs Not applicable maturities of the considered necessary the,! A downward trend included currently present for actual expenses and other costs incurred on behalf of.! $ 120,000 2 Beds 2 Baths 1,360 Sq company for more than 15 years of experience in the restaurant for... Years as Director of business saddlebrook resort ownership as General Manager of the 480-acre Saddlebrook Resort at April!