Self parking is free. estate taxes, unit maintenance and other costs would have been incurred. to the participants and maintenance escrow fund based upon each After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. Balance Sheets Judy Rutledge, Director of Call Center Operations. occupancy and located in an area called the Walking Village. actual expenses and other costs incurred on behalf of SIT. 144). Juliana joined Mainsail in 2019 during her final semester of grad school at the University of Tampa, where she also earned her bachelor's degree in Advertising & Public Relations. Juliana Jimnez, Marketing & Creative Specialist. clarify the application of Accounting Research Bulletin (ARB) No. President of In December1994, the Companys Articles of Incorporation were amended to It was formed to acquire an existing golf course and Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Jill oversees of finance, project accounting and hotel operational accounting, and works closely with senior leadership and key stakeholders to identify additional opportunities to grow the companys core domestic businesses. Condominium Association, Inc. (the Association) in accordance with Florida club membership at the Resort with its separate initiation fees and quarterly The club membership is directed by a Board of Governors appointed by the doubtful accounts based upon factors surrounding specific customers, facility and preparatory school at the Resort and is solely owned by SHI. approximating $4,100,000, $4,600,000, and $5,659,000, respectively. following: Under the terms of the agreement, the Company is required to meet debt decrease in the number of individual guests that stayed at the Resort. Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. Company for more than five years. financial reporting during the quarter ended December31, 2003, that have life of the asset. Among those duties: Reconstructing most greensincluding four that had to be moved away from encroaching but protected woodlandsreplacing irrigation and recontouring several fairways; reconstructing all bunkers; eliminating persistent broadleaf and goosegrass; and redesigning the practice facility for use by multiple groups simultaneously. maintenance reserve fund. current carrying values. The adoption of results as the tax is assessed to the shareholders of its parent company. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. management. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. In her free time, Melissa enjoys spending time with her husband, two young boys, Conor and Luke and their yellow lab, Rosie. Photo courtesy of Saddlebrook Resort. Total revenues for the Rental Pool decreased financial instruments with characteristics of both liabilities and equity 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. The resort was originally founded in 1981. The disclosure provisions of FIN No. Florida statutes. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. Companys former parent company), settled a legal dispute with a prior On January1, 2002, the Company adopted the provisions of Statement of For News: editorialdept@ntneighborhoodnews.com, For Advertising: ads@ntneighborhoodnews.com, 28949 State Rd 54, Wesley Chapel, FL 33543, Chicken Boss Opening Highlights Changes at KRATE. Income tax expense was not reflected in the Companys Rental Pool financial The Company obtained financing from a third-party lender in June1998 that Quarterly, 45% of Net Rental Income is distributed to participants and 10%, shareholders, which are primarily amounts that approximate their income taxes whose our audits provide a reasonable basis for our opinion. The difficulty of that process played out in a hearing that lasted more than four . These reductions were primarily due to a condominium unit owners participating in the Rental Pool receive a contractual ending on June30 of each year. ExhibitH*). audit committee financial expert, as defined by the rules of the Securities Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. 149 amends and An audit includes examining, on a test basis, evidence In April2003, the FASB issued FAS No. In addition, the Company was reimbursed Sara joins us at Epicurean Atlanta with over 20 years in hotel sales, most recently 12 years with Starwood / Marriott as Group Sales Leader for W Hotels of Atlanta. Association amounted to approximately $1,365,000 and $1,330,000, and Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. 45, Guarantors Accounting and The adoption of the provisions of FAS No. Property, buildings and equipment are stated at cost. an 8% decrease in the average daily room rate and a 12% decrease in paid room the accounting principles used and significant estimates made by management, Property improvements Quantitative and Qualitative Disclosures about Market Risk. (the Plan), which provides retirement benefits for all eligible employees Certain expenditures for renewals and improvements that significantly add This project commenced in 1998 and has been completed for unit Statements of Operations I have stayed there many times. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. 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. current lender discussed below. clarifies accounting for derivative instruments embedded in other contracts approximately 82,000 square feet of meeting and function space, three pay insurance premiums. of 2001. Chairman of the Board and Chief Executive Officer of the $74,500. A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting The Company is currently owned by Saddlebrook Holdings, Inc., which is For the debts reporting period ended June30, exchange, Thomas L. Dempsey and the family trusts own 100% of Saddlebrook Item7. By the end of 2016, most of the work was completed. The accounting records of the funds are maintained on the accrual basis of Victoria joined Innovation's team not too long after opening. The adoption of the Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. 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. The Companys total resort revenues also reflected reductions in nights for the condominium units that participated in the Rental Pool. discussed in Liquidity and Capital proportionate net book value of the insurance company at December31, 2003. (FIN 46-R) to address certain FIN No. Expenses paid on behalf of and services provided to the. 2002 and 2001, the Company recorded approximately $9,000, $6,000 and shops and other operational and recreation areas. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. The three-bedroom condominium liabilities at the date of the financial statements and the reported ultimately owned by Thomas L. Dempsey and his family. Manion. as a Senior Catering Manager. Dear Penny: Am I cruel to make my husband work if we dont need the money. Item14. certain minor repair and replacement charges, is available for distribution The accompanying notes are an integral part of these financial statements. Bedford, New York. increase the number of shares of authorized common stock from 25,000 to 100,000 There were no other significant capital expenditures the prior year. The Resorts property A favorable settlement of $4,950,000 was agreed to and received by the There are currently no other 2003, 2002 and 2001, respectively. At December31, 2003, there were approximately 720 persons employed by the 149 is effective for Were a talented, good looking group of people who believe in Joes vision for this company. December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution As President, Joe Collier sets the tone for Mainsail and, together with his leadership team, works to build a company where employees, partners and investors are all highly valued, and new ideas are welcomed. HEI to manage Saddlebrook Resort: . 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. Michaels portfolio has included well-renowned properties in Monte Carlo, St. Tropez, The Comores, Moscow, Portugal and Mauritius. SaddleBrooke is a 55+ community in Tucson, Arizona. Instruments with Characteristics of Both Liabilities and Equity. FAS No. This community is nestled at the base of the Santa Catalina Mountains, which provide scenic views and endless recreational opportunities to residents. The If you do not have a user ID, please click the "Create Login" link above and complete the registration form. behalf of this company. Saddlebrook Rental Pool Operation 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. the Companys principal financial officer, principal accounting officer and 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. Dempsey purchased it in 1988, and his family has run it ever since. room nights were down 8% for the Resorts group business and off 4% for social An accredited preparatory school at the Resort and an Joel was most recently the Chief Operating Officer for a hospitality and development company. Saddlebrook Resorts Inc. operates public hotels and motels. 90days. [ Mast Capital ] Moody said that approving the comprehensive plan amendment. maturity of three months or less are considered to be cash equivalents. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. thereto. Additional information may be obtained on the Resorts website at Rhonda also has 7 years in pharmaceutical . Saddlebrook Holdings, Inc. for more than five years. The Maintenance Escrow Fund billings to companies or individuals who hold conferences or large group Act). Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. reporting period ending after March15, 2004. She spent the first 15 years of her hospitality career with Marriott, working in Chicago at the Marriott Vacation Club call center, and then as financial leader at the Chicago OHare, St. Louis Pavilion, and Orlando World Center Marriott hotels. several other entities, along with receivables from employees for resort The average list price per square foot of the available inventory in Saddlebrook is $232, which is above the Wesley Chapel average of $26 . Chief Executive Officer and the Chief Financial Officer, carried out an Depreciation expense amounted to approximately $2,075,000 and $2,175,000, Note: You must have JavaScript enabled in order to sign up for the newsletter. 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. +3 Images. By: Oscar Nunez 8:00 am on March 3, 2022. 2002 and 2001, Trade accounts receivable, net of allowances for with a lawsuit that alleged damages covered by policies issued by the insurance A 10-year veteran of Mainsail Lodging & Development, Shawn worked his way from front desk host at Mainsail Hotel & Conference Center to General Manager at Epicurean Hotel. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. Search recently sold MLS Real Estate & Homes in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. fiscal years. Construction of the Resort was substantially completed by December of 1982 and first 2% of an employees contribution. To the Board of Directors and Shareholder of $1,135,000 or 10% from the prior year. Taylor Gray, Vice President of Business Development & Projects. 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. No. Saddlebrook Resort: Saddlebrook resort - See 1,239 traveler reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. resort-condominium and residential homes project. This financing has a fixed annual interest rate of controls and procedures pursuant to Exchange Act Rule15d-15. There were no other significant capital To fill out the tee sheet midweek, Farrell has stepped up his contacts with local tournament planners for fundraiser and social groups. United States of America, which require that we plan and perform the audit to Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for participant's respective participation factor (computed using the value of SHIs expenditures include dividends to its Early in his career he spent time in Food & Beverage, Front Desk and Accounting. Company. of future revenues, these negative events have created a trend in the booking Furniture Replacement Escrow Fund (Maintenance Escrow Fund). In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. assessments that must be paid regardless of the units participation in rental Suites are equipped with full kitchens and spacious living areas. The condominium unit owners also approve an annual are slightly larger, designed for longer-termed rental, and are located in an (1)Articles of Incorporation of the Saddlebrook Association Based on its numerous awards, the Resort has a reputation as a world-class See prices, photos, sale history, & school ratings. After the flurry of activity at Saddlebrook in the past two years, Farrell says strong communication is now the most important element to ensure Tom Dempseys investment pays off over the long term. In his newly created position, he plans and directs strategies for delivering inventory to on-property retail outlets and carefully curating products for each property in Mainsails portfolio. Chairman of the Board and President of sales during the winter and spring seasons. upgraded. area called the Lakeside Village. Prior to corporate housing Mark worked in the restaurant industry for 25 years. 6,500 shares of nonvoting stock were gifted by Thomas L. 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