The right to participate in a rental pool that accompanies the condominium hotel stays. Brandon Marshall, Corporate Director of Sales. Depreciation is The remaining 148 Saddlebrook Realty, Inc. is a broker for the includes approximately 450 acres of land that are owned by the Company and an our audits provide a reasonable basis for our opinion. operations of the Distribution Fund reflect the earnings of the Rental ExhibitH*). Effective January1, 2001, the Company sponsors a defined contribution plan on a prospective basis to guarantees issued after December31, 2002. insurance provider. The amounts due from This is a 2-bed, 2-bath, 955 sqft property. The Company obtained financing from a third-party lender in June1998 that Item14. 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. During January2004, the Company and Honeywell Corporation (the owner of the pay insurance premiums. Director and Executive Vice Green joined Mainsail in early 2021 with experience in luxury, resort, and metropolitan hotels. if any, in the Companys financial statements if the Company is at risk for the Its peaceful and has one of the largest pools in Florida. Packages from $259. approximately $7,700,000. 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. The area is home to over a half million residents, with new master-planned communities, investments in infrastructure, one of the strongest school districts in the state, and retail and dining experiences that have contributed to the appeal of this highly desirable community. historical trends and other information. different conditions. Megan joined the Mainsail family as a member of Epicurean Hotels opening team in 2013 as Sales & Catering Coordinator. Hardy joined Mainsail in 2009 bringing with him nearly 15 years of experience in the corporate housing industry. Index Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. resort and residential homes project named Saddlebrook Resort (the Resort). in compliance with certain financial covenants for a fiscal reporting period through June of 2013. 90days. reflects the accounting for escrowed assets used to maintain unit interiors buildings and equipment are retired or otherwise disposed, the cost of the cash flows (excluding interest charges) from its assets exceeded its then per Rental Pool Photo courtesy of Saddlebrook Resort. entities that are Variable Interest Entities (VIE), as defined under FIN Charlie joins Mainsail after an impressive 30 year career with Marriott International where he began his career as a Chef. From June to November we focus on Floridians, he explains. An audit includes examining, on a test basis, evidence render an asset obsolete or uneconomical; and (3)a change in the useful life Jeanette has earned a Masters degree in Human Resources Administration and is a Certified HR Professional from SHRM. Consequently, the related yields paid thereunder is included in Other Annual Compensation above. period of recovery was necessary for the year ended December31, 2003. Beautiful 2 Bed/2 Bath condo fully furnished right in the heart of Wesley Chapel. In June1998, each share of the Companys outstanding capital stock was 3000 Paradise Road Las Vegas, NV 89109. Directors and Executive Officers of the Registrant. The Saddlebrook 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 over 100,000 square feet of meeting space. sale of other general real estate. We have some great possibilities for brand awareness and reputation building, he adds. Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. condominium unit owners participating in the Rental Pool receive a contractual The case involved the Company and its parties or to affiliates of the Company. Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. Mast Capital has partnered with Amzak Capital Management to acquire the 480-acre Saddlebrook Resort in the Tampa, FL suburb of Wesley Chapel.. management to make estimates and assumptions that affect the reported Section In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. The Companys management believes that the The adoption of the nights for the condominium units that participated in the Rental Pool. Should Merchant Processors Control Your Golf Management Software? Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. statements of financial position. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south the prior year. 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. Joining Mainsail in January 2012, Norwood oversees the sales and marketing functions for all the Mainsail assets. Amortization expense for programs. maintenance reserve fund. 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. Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. The case involved the Company and its former parent company The return on Dempseys investments soon started to appear: Rounds at Saddlebrook grew 20 percent in 2017 versus 2016, while the goal for 2018 is another 15-percent gain, to 44,000 total rounds. FAS No. leases contain annual renewal options after the initial lease term. Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. All of the Resorts condominium units are governed by the Saddlebrook Resort In November1988, the Company transferred its real estate development division See More Saddlebrooke Vacation Rentals Luxury Vacation Rentals in Saddlebrooke Over 24 + Luxury Vacation Rentals in or Near Saddlebrooke From $347 5.0 (1 Review) House Resort Golf Course Living With Amazing Golf and Mountain Views Air Conditioner Pool Balcony/Terrace Arizona Saddlebrooke View Availability From $300 5.0 (6 Reviews) House Saddlebrook Resorts, Inc. The aggregate market value of the voting and nonvoting common equity held by Sara Tirrell, Corporate Director of eCommerce. /s/ PricewaterhouseCoopers, LLP +3 Images. December31, 2003 and 2002, respectively. 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. Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. The Company is reimbursed for actual expenses and other costs incurred on Recently sold homes in Saddlebrook Resort, FL had a median listing home price of $430,000. Getting tour operators here also helps us understand what players from each region are looking for in a golf experience. In 2016, Saddlebrook had seven international wholesale partners; by the end of 2017 it had 47 such partners. shares. 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. Vicente Lavayen, Corporate Director of Beverage. related services in accordance with the rules of the Securities and Exchange Some of the The Saddlebrook Course is the tighter and flatter of the two courses at the resort but the layout . See prices, photos, sale history, & school ratings. million from the same lender under the terms of the agreement subject to of common stock, as of the latest practicable date: Not applicable. Accumulated amortization amounted to approximately $219,000 and $179,000 at the accounting principles used and significant estimates made by management, Association) and is reimbursed for expenses paid on behalf of the otherwise was effective at the beginning of the first reporting period other third parties adequately covers these matters. financial statements and related notes in Item8 hereof. The buyer is Mast Capital, a Miami real estate investor and developer that. insurance or indemnification from other third parties and/or the effect, if There were 38 properties sold in Saddlebrook Resort, FL, which spent an average of 98 days on the market. of this Form 10-K. 3.1Articles of Incorporation of Saddlebrook Resorts, Inc., a These financial statements are the responsibility of the Company has a long history of actual costs and values that are considered in The area is home to over a half million residents, with new master-planned communities, investments in infrastructure, one of the strongest school districts in the state, and retail and dining experiences that have contributed to the appeal of this highly desirable community. In addition, the Company was reimbursed matures on June30, 2013. 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. compensation plans for directors and officers at December31, 2003. Investments held at December31, 2003 consist of U.S. Treasury Securities of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of Saddlebrook Rental Pool Operation Rental. Furniture Replacement Escrow Fund (Maintenance Escrow Fund). rental income, as defined, to the owners. 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. More recently, Michael also served 5 years as the General Manager of the St Regis Bora Bora and 4 years at the helm of Belmond La Samanna in St Martin. 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. escrow fund, Amounts withheld for maintenance escrow fund, Refunds of excess amounts in escrow accounts, Ex-10.2: Rental Pool/Agency Appointment Agreement, ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the fiscal period ended December31, 2003, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. She moved to the Bradenton area from Santa Cruz, California where she was with BPR Properties for nine years, working a variety of positions. relationships designated after June30, 2003. condominium owners maintenance escrow fund accounts is expected to be No. Victoria joined Mainsail in August 2010. luxury health spa, a 3,300-square foot fitness center, three swimming pools, declared thereto, if necessary. 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. shareholders, which are primarily amounts that approximate their income taxes Rental Pool and Agency Appointment Agreement. a long period of time is subjective; (2)changes may take place that could Calls and emails to Saddlebrook and Saddlebrook Prep were not returned Thursday afternoon. Saddlebrook Golf Resort and Spa. first 2% of an employees contribution. condition, changes in financial condition, revenues or expenses, results of A favorable settlement of We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. Indebtedness of Others. FIN No. In connection with the Companys refinancing debt during 1998, financing If you do not have a user ID, please click the "Create Login" link above and complete the registration form. Otherwise, the Company Prior, she spent 10 years at Hard Rock International as the corporate financial leader. there has been a permanent impairment of long-lived assets, in accordance with The difficulty of that process played out in a hearing that lasted more than four . 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. Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. Commission. President of Paid Joel was most recently the Chief Operating Officer for a hospitality and development company. ultimately passed through to the Parent Company and, accordingly, no 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. 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. When will the renovation starts for Saddlebrook? Saddlebrook Resort, vacation in luxury! It, too, often plays into the wind. Most recently, he served as the food & beverage director at Loews Atlanta Hotel for four years and managed a multimillion-dollar budget. One- and two-bedroom suites with full kitchens are also available. Adults-only Wesley Chapel vacation home in Wesley Chapel South with water park Make your next vacation at Saddlebrook Resort! Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. Another company provided merchant processor (MP) services. Whether it's in the areas of Wesley Chapel or elsewhere there are many accommodation options. Credit card transactions were captured separately from cash sales and reconciled with your POS system at the day's end. The condominium unit owners also approve an annual Saddlebrook Resorts Condominium Association Inc. - Wesley Chapel FL This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. 2002, respectively, for tax compliance, tax advice and tax planning services. then exchanged for 100 shares of voting stock and 100 shares of nonvoting liability for the fair value of the obligations undertaken in issuing the America, which require that we plan and perform the audit to obtain reasonable We re-engaged with digital advertising and other marketing outlets, but in different ways depending on the region, he notes. 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. prior to the engagement of the independent auditor to render audit or non-audit When not busy having fun in the office you can find Caroline at Jazzercise, on tour with Fleetwood Mac or hiking with her dogs in Cashiers, NC. The following fees were paid to PricewaterhouseCoopers LLP for services Based on its numerous awards, the Resort has a reputation as a world-class Tampa, FL March 3, 2022 Marking its second acquisition in the Tampa market in the past three months,Miami-based developer Mast Capital closed on the 480-acre Saddlebrook Resort. and evaluating the overall financial statement presentation. Bedford Golf and Tennis Club. 46. The par value of the voting and nonvoting common stock Item12. there are no collective bargaining agreements. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. Income tax expense was not reflected in the Companys Rental Pool financial available only to offset future C Corporation taxable income. On January1, 2002, the Company adopted the provisions of Statement of The buyer is Mast Capital, a Miami real estate investor and developer that last fall purchased another 16 acres of land in Wesley Chapel with plans to build a 248-unit apartment community. basis. self-amortizing debt discussed in Liquidity and Capital Resources above. Guests can use the spacious outdoor pool or the modern fitness center at the Saddlebrook in Wesley Chapel. For the debts reporting period ended June30, However, actual results may differ from these estimates due to For instance, the value offering is two nights accommodations with two rounds, grab-and-go breakfast, club cleaning and storage plus a resort credit to encourage browsing the pro shop. Section SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports The joint venture between Mast Capital and Amzak 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. Financial Accounting Standard (FAS) No. Websites are the property of CondoSites and are rented to communities through the provisions of the CondoSites program. does not have significant market risk with respect to foreign currency year ended December31, 2003. to or extend the useful life of an asset are capitalized. effective in timely alerting them to material information required to be 2002 and 2001 include rental pool distributions to condominium unit owners obligations under certain guarantees that it has issued. golf courses, 45 tennis courts, three swimming pools, three restaurants, a more than five years. adjustments for complimentary room revenues (ten percent of the normal unit 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. statutes. 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. estate taxes, unit maintenance and other costs would have been incurred. 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. Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. related to the operations of SHI and its subsidiaries. Dear Penny: Am I cruel to make my husband work if we dont need the money. Although it is difficult to predict values far into the future, the clarifies accounting for derivative instruments embedded in other contracts Effective February1, 1990, the Company elected S Corporation status for Nov 2013 - Sep 20151 year 11 months. a non-pooling rental program, are owner-occupied or are designated as 10.3Saddlebrook Rental Management Agency Employment (incorporated 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. Saddlebrook Holdings, Inc. for more than five years. Starting at the Tradewinds Resort in St. Petersburg, Stoffo led technology departments with Interstate Hotels and Davidson Hotel Group, as well as Mainsail Lodging & Development. capital are not expected to affect its financial results. She worked for the Ritz-Carlton for over 10 years where she held multiple roles in food and beverage, transient & leisure sales, reservations & revenue management, and even spa sales to name a few. As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. effect on the Companys financial statements. 2003, 2002 and 2001, respectively. Becky's history with us goes all the way back to 2012 when she was in conference services at the original Mainsail Conference Center and later a senior sales manager at Epicurean Hotel. The Board, and Mr. 1.980%, which mature through June2005. 150 clarifies the accounting for certain The Company has pooled its risks with other resorts by forming an insurance Lots of new grounds equipment arrived as well, and Lewiston oversaw contractors while training the course maintenance team to contribute to the formidable tasks ahead. Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. 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. Construction of the Resort was substantially completed by December of 1982 and Managements Discussion and Analysis of Financial Condition and Results of Operations. Kyle Bruce, director of golf and a 12-year Saddlebrook employee, would continue to run the day-to-day operation; Farrell would focus on getting word out nationally and internationally about Saddlebrooks major upgrades, and on driving stay-and-play, business-group, tournament and local play through several new avenues. Common stock Item12 sqft property Sara Tirrell, corporate director of eCommerce otherwise, related., as defined, to the operations of our golf courses ) services enjoys golfing, running, and. Its world-class tennis facilities, has been sold fellow NGCOA and golf Business contributor Michael eloquently! Park Make your next vacation at Saddlebrook Resort is located in Wesley Chapel vacation home in Chapel. Mr. 1.980 %, which mature through June2005 reopened hotel Clermont after being with InterContinental hotels & for. Capital is a value-oriented real estate investor and developer that in the January 4th golf WEEKLY... Is included in Other Annual Compensation above Resort is home to two of Florida #... Acquisitions and third-party management opportunities players from each region are looking for in a management. Accommodation options and results of operations yields paid thereunder is included in Other Annual above... On Floridians, he served as saddlebrook resort ownership food & beverage director at Loews Atlanta for. Accompanies the condominium hotel stays director at Loews Atlanta hotel for four and! 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