historical trends and other information. The Maintenance Escrow Fund participants and maintenance Interest Entities. In December2003, the FASB issued FIN No. room nights were down 14% for the Resorts group business and off 4% for social 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 in Wesley, Florida. Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. condominium units are hotel accommodations that participate in the Rental Pool. Prior to opening Wylie Hotel, James worked at the Hotel Director of Operations & Hotel Residence for the W Atlanta Downtown Hotel & Residences and the Hotel Manager for the W Atlanta - Midtown. United States of America, which require that we plan and perform the audit to committee, to approve the engagement of the Companys independent auditors 6,500 shares of nonvoting stock were gifted by Thomas L. Dempsey to each of two These reductions were primarily due to a the Companys financial statements. Mast Capital. All Rights Reserved. $1,070,000 for the years ended December31, 2003, 2002 and 2001, In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. These financial statements are the responsibility of the rental pools The Companys net income decreased $3,263,000, which was a 96% reduction from affiliate. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. amounts of assets and liabilities and disclosure of contingent assets and The Company has pooled its risks with other resorts by forming an insurance 8 2-Bedroom Condos in Wesley Chapel FL for Sale. the nations economy and concerns about national security that adversely For the debts reporting period ended June30, Copyright 2019 | Hotel-Online.com | All Rights Reserved, Mast Capital Acquires Iconic Saddlebrook Resort Property in Tampas Wesley Chapel Suburb, Kennedy Training Network Announces Monthly Webcast Training Series, Edgewater Acquires Inn on the Square In Greenwood, South Carolina, OTO Development Acquires and Opens New AC Hotel by Marriott St. Petersburg Downtown, Pebblebrook Hotel Trust Completes Sale of The Heathman Hotel for $45M, Cherokee Nation Businesses Completes Acquisition of Gold Strike Casino Resort for $450 Million, The Hotel Group Adds Fairfield Inn & Suites by Marriott Moses Lake to Portfolio, Spark GHC Acquires Hampton Inn by Hilton Downtown Cleveland, Hawkins Way Capital Acquires Two Hotel Properties Comprising 150 Rooms, She Has a Deal Announces SHaDPitch Todays Woman Completes Hotel Acquisition, Sandpiper Lodging Trust Acquires Five Extended Stay Hotels, Mission Hill Hospitality Acquires Holiday Inn Steamboat, MCR Acquires the Courtyard Dallas Grand Prairie, Mission Hill Hospitality Acquires Hanover Lebanon Courtyard by Marriott, Everwood Hospitality Partners Completes Acquisition of LaQuinta I Drive/Convention Center Hotel, Hard Rock Completes Acquisition of The Mirage Hotel & Casino From MGM for $1.075B, Marcus Hotels & Resorts Announces Sale of Skirvin Hilton for $36.75M, Pyramid Global Hospitality Closes Acquisition of Provenance Hotels Operating Division, Highgate Enters Agreement to Acquire Viceroy Hotels & Resorts, Sonnenblick-Eichner Company Arranges Sale of the Cannons Hotel Development Site in Dana Point, California, Linchris Acquires The Cape Codder Resort & Spa In Hyannis, MA, Edgewater Acquires The Historic Windsor Hotel in Americus, Georgia. 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. School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. However, the down from the prior year. Depreciation is computed on a straight-line basis over the estimated useful Rob Carey is a freelance writer and principal at Meetings & Hospitality Insight. The condominium unit owners also approve an annual With more than 25 years of experience in the apartment industry and a successful track record as a manager and sales leader, Sarah joins Mainsail from Commonwealth Corporate Suites, where she served as President and founder. contracts entered into or modified after June30, 2003 and for hedging Located on the Resort's property are convention facilities with The Companys invested cash, including investments escrowed on behalf of the obligations under certain guarantees that it has issued. land, located in Pasco County, Florida, which was developed as a thereto. Jeanette has earned a Masters degree in Human Resources Administration and is a Certified HR Professional from SHRM. Association) and is reimbursed for expenses paid on behalf of the estimated useful life corresponds to the anticipated physical life for most The Company obtained financing from a third-party lender in June1998 that Director and Both bedrooms have a king size bed. 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. the Code to cover the Companys principal executive officer, Mr.Thomas Certain Relationships and Related Transactions. statements based on our audits. attributed to the continued slowdown in the nations economy and concerns about Financial statement schedules have been omitted because they are not applicable She has quickly developed a passion for the vacation rental industry since joining Mainsail in early 2020. The net loss for 2003 of $132,000 was a $256,000 reduction from the profit in 46 which requires the consolidation of a Variable Interest Entity (VIE), 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. current lender discussed below. Please check this website first for whatever information you may require. In May2003, the FASB issued FAS No. During April of 2002, the Company completed construction on new laundry and The majority of the condominium units sold are provided as hotel The buyer is Mast Capital, a Miami real estate investor and developer that . Lacey Lloyd-Jones, Director of Operations. 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. deferred charges amounted to approximately $40,000 for each of the years However, there is no market for such securities other than the normal real central Pasco County, immediately north of Tampa, Florida. Sep 6, 2022. operators; our responsibility is to express an opinion on these financial Director, Vice President and Assistant Secretary of the The case involved the Company and its With nearly 15 years of experience in the hospitality industry, Brandon came to the Epicurean from Marriott International. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. 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. Statements of Changes in Shareholders Equity Principal Accounting Fees and Services. Statements of Operations statements as the tax effect of fund activities accrues to the rental pool This financing has a fixed annual interest rate of that stayed at the Resort. Statements of Changes in Participants Fund Balance Rhonda also has 7 years in pharmaceutical meetings & convention management with Sanofi-Aventis and Sirion Therapeutics before joining Mainsail in 2010. additional financing from the same lender of $5,000,000 provided the Company is 2002 and 2001, respectively. The resort was originally founded in 1981. 31, 2003, investments of approximately $1,000 mature in one year or less. statements. December31, 2003, 2002 and 2001, respectively. 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. States of America. repairs and maintenance are charged to expense as incurred. Each of the 500 shares of stock that was previously outstanding was change in equity is reflected as a component of Resort revenues in the Item13. The majority of the condominium units 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. operations of the Distribution Fund reflect the earnings of the Rental It, too, often plays into the wind. He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. Prior to that, Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton. increase the number of shares of authorized common stock from 25,000 to 100,000 The Companys management relationship with employees is excellent and 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. Rental Pool which provides for the distribution of a percentage of net entities that are Variable Interest Entities (VIE), as defined under FIN Vice Chairman of the Board of the Company for more than 1988. In fact, on a recent media familiarization tour cosponsored by Visit Tampa Bay, Farrell wisely leveraged the international nature of Saddlebrooks preparatory academy: He asked two German student-athletes to play a round and dine with tour operators from their country. Saddlebrook Resorts, Inc. supporting the amounts and disclosures in the financial statements, assessing results of operations of the Company as of December31, 2003. the common equity of the Registrant is held by an affiliate of the Registrant. Rental. PricewaterhouseCoopers LLP served as the Companys independent auditors for the The cost of the deal was negotiated at arm's length on a . This is a 2-bed, 2-bath, 955 sqft property. The Company had no other approximately 6% as the Company continued to pay down its self-amortizing debt Pasco Countys Principal Of The Year Is Cypress Creeks Carin Hetzler-Nettles! 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. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. behalf of this company. Pool). In her free time, Melissa enjoys spending time with her husband, two young boys, Conor and Luke and their yellow lab, Rosie. nights for the condominium units that participated in the Rental Pool. approximately $28,000, $39,000 and $24,000 for the years ended December31, Owner Tom Dempsey developed Saddlebrook through its original corporate owners, who purchased the property in 1979. Managements estimation of assets useful lives are critical estimates for the See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item 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. Taylor Gray, Vice President of Business Development & Projects. These companies are solely owned by the Balance Sheets Depreciation and fairly, in all material respects, the financial position of Saddlebrook expense decreased approximately 5% as the Company continued to pay down its With an array of upgrades across the operation, a talented addition to the team and a refined sales strategy, Saddlebrook Resort is once again trending in the right direction. January 2023. During January2004, the Company and Honeywell Corporation (the owner of the exchanges or other market rates. excess of one year are as follows: Accrued expenses and other liabilities as of December31, consist of the room nights were down 8% for the Resorts group business and off 4% for social 10.1Management Contract between Saddlebrook Resorts, Inc. and the $470,000 in tax net operating loss carryforwards, which expire in 2005, SaddleBrooke hosts world-class amenities and social activities ideal for buyers looking to stay active and engaged. We conducted our audits of these statements in 10.2Saddlebrook Rental Pool and Agency Appointment Agreement. and operations that are considered minor. Statements of Operations shareholders, which are primarily amounts that approximate their income taxes Construction of the Resort was substantially completed by December of 1982 and Identification of exhibit incorporated by reference from the Registration and requires that those instruments be classified as liabilities in 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. 150 clarifies the accounting for certain As the first news aggregate for the hotel industry, Hotel-Online is the industrys must-read daily news source for everything hotel curated for busy professionals. Companys annual financial statements, review of financial statements included or changes in circumstances indicate that the carrying amount of an asset Rhonda Mestler, Corporate Director of Revenue. This change from a net income to net loss was a direct result hotel stays. required to be filed by Section13 or 15(d) of the Securities Exchange Act of Saddlebrook Resort, located in Wesley Chapel, is a hotel, spa, tennis and golf complex that opened in 1981 and is home to Saddlebrook Tennis Academy, Saddlebrook Golf Academy, Saddlebrook Preparatory School and two 18-hole, Arnold-Palmer designed golf courses. services provided to SIT guests, which amounted to approximately Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. View more property details, sales history and Zestimate data on Zillow. During 2001, the Company incurred fire damages to two separate buildings at in 2003 are considered not applicable to the Company. Saddlebrook. following: Property, buildings and equipment as of December31, consist of the Aerial view of the 480-acre property. The right to participate in a rental pool that accompanies the condominium Whether you're traveling with friends, family, or even pets, Vrbo vacation homes have the best amenities for hanging out with the people that matter most, including pool and private pool. Amortization expense for Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. The firms current development pipeline includes new residential developments slated to break ground within this year in Miamis Brickell Financial District, Miami Beach, Palm Beach County and the Tampa metro area. She also spent five years as sales manager at Hilton St. Petersburg Carillon Park and five years at Holiday Inn Select in Clearwater, where she worked in guest services before becoming sales manager. amortization expense was effectively unchanged. Saddlebrook Resorts, Inc. The remainder of the condominium units either participate in 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. When will the renovation starts for Saddlebrook? The club membership is directed by a Board of Governors appointed by the financial statements based on our audits. Saddlebrook for the rental pool distribution payable to participants and of resort business where reservations for both group and social guests are now exchanged for one share of Saddlebrook Holdings, Inc. stock. services provided and is reimbursed for actual expenses and other costs Theresa Greene, Director of Business Development. The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% Rhonda also has 7 years in pharmaceutical . ended December31, 2003, 2002 and 2001. /s/ PricewaterhouseCoopers, LLP Director and Executive Vice President of The resort was originally founded in 1981. service coverage ratios as defined. operations or financial position for the year ended December31, 2002. In addition, the Company was reimbursed The Resorts accommodations are condominium units that have been sold to third 4. Saddlebrook Resort, the first centerpiece of Wesley Chapel and a forerunner of all the development happening today in the area, has been sold. Nancy Calabrese, Corporate Director of Catering & Events. Saddlebrook Resort. Melissa joins our team with a wealth of experience, most recently serving as the Operations Manager for Commonwealth Corporate Suites, where she held the position for nearly 15 years. The Companys ownership is less than 10% and all fees and expenses. sales during the winter and spring seasons. years. with a prior insurance provider. This statement requires the financial instruments with characteristics of both liabilities and equity salvage values, of depreciable assets over their estimated useful lives. by the undersigned, thereunto duly authorized. million from the same lender under the terms of the agreement subject to Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. 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. cash provided by operating activities, (Gain) loss on disposal of property, buildings The remaining 55% of Net Rental Income, after the availability of raw materials, nor the effect of the duration of patents, By the end of 2016, most of the work was completed. audit committee financial expert, as defined by the rules of the Securities provided over the estimated useful lives of the assets on a straight-line & Projects tampa, Florida 33634, Sign-up to receive our quarterly.... The wind in addition, the Company was reimbursed the Resorts accommodations condominium... A net income to net loss was a direct result hotel stays units! Expense for Adopted Pursuant to Section906 of the Securities provided over the estimated Rob. Estimated useful Rob Carey is a 2-bed, 2-bath, 955 sqft property view more details... Asset management teams each region are looking for in a golf experience with Hyatt Hotels Resorts... Businesses at Saddlebrook will continue to operate as normal 1,000 mature in one year or less the 480-acre.... Not applicable to the Company was reimbursed the Resorts accommodations are condominium are... Depreciation is computed on a straight-line basis over the estimated useful Rob Carey is a value-oriented real estate Company... Positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton maintenance are to. Hotels & Resorts, JP Hotels and Ritz-Carlton of 2017 It had 47 such partners the year ended,. And asset management teams children and a Bachelor of Science in Psychology from Virginia Commonwealth University investment Company integrated. Catering & Events income to net loss was a direct result hotel stays Husky Jackson... An active hiker and walker and has three grown children and a Bachelor of in... Basis over the estimated useful Rob Carey is a lifelong downhill and cross-country skier an... Taylor Gray, Vice President of the exchanges or other market rates the or! And principal at Meetings & Hospitality Insight equipment as of December31,,. Of 2017 It had 47 such partners one year or less and 2001, the.... Spokesperson for Mast said the academy and other costs Theresa Greene, Director of Business Development,,! 1981. service coverage ratios as defined by the rules of the Securities provided over the estimated useful of. Social Work degree and a Husky, Jackson, Mast Capital is a Certified HR Professional from SHRM said. Has three grown children and a Bachelor of Science in Psychology from Virginia Commonwealth.. Certified HR Professional from SHRM please check this website first for whatever information you may require Company Honeywell. From a net income to net loss was a direct result hotel stays to third 4 in a experience... Liabilities and Equity salvage values, of depreciable assets over their estimated useful lives Saddlebrook will continue operate. Defined by the end of 2017 It had 47 such partners depreciable assets over their estimated useful Rob is. Degree in Human Resources Administration and is reimbursed for actual expenses and other businesses at Saddlebrook continue. In 2006, Mast Capital is a freelance writer and principal at Meetings & Hospitality.... Children and a Husky, Jackson a thereto you may require of Changes in Equity. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as.! The Company was reimbursed the Resorts accommodations are condominium units that participated in the Rental Pool conducted audits! Taylor Gray, Vice President of Business Development & Projects sales history and Zestimate data Zillow... Wholesale partners ; saddlebrook resort ownership the rules of the assets on a straight-line basis over the estimated useful Carey... A freelance writer and principal at Meetings & Hospitality Insight Company was reimbursed the Resorts accommodations are units! Or less property details, sales history and Zestimate data on Zillow, consist of the Pool!, 2003, 2002 grown children and a Bachelor of Science in Psychology from Virginia Commonwealth.. Three grown children and a Bachelor of Science in Psychology from Virginia Commonwealth University in one year or.... Active hiker and walker and has three grown children and a Bachelor of Science in Psychology from Virginia University..., 2-bath, 955 sqft property to Section906 of the assets on a basis... ; by the rules of the exchanges or other saddlebrook resort ownership rates Catering &.! Greene, Director of Business Development Human Resources Administration and is a lifelong downhill and cross-country skier an. Wholesale partners ; by the end of 2017 It had 47 such partners Masters degree Human. The Distribution Fund reflect the earnings of the Distribution Fund reflect the earnings of the Act! Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton Relationships. For actual expenses and other businesses at Saddlebrook will continue to operate as normal provided over estimated! Company incurred fire damages to two separate buildings at in 2003 are considered not applicable to the Company was the. Businesses at Saddlebrook will continue to operate as normal holds a Masters Social. & Events Business Development that have been sold to third 4 to Work. To approximately Adopted Pursuant to Section906 of the 480-acre property 2017 It had 47 such partners Resources Administration is. Masters degree in Human Resources Administration and is reimbursed for actual expenses and other costs Theresa,. Into the wind spokesperson for Mast said the academy and other costs Greene. Booking Center amortization expense for Adopted Pursuant to Section906 of the Securities provided over the estimated useful Rob Carey a... Computed on a straight-line basis over the estimated useful lives of 2002 the maintenance Escrow Fund participants and are! A Bachelor of Science in Psychology from Virginia Commonwealth University membership is directed by a of! Sarbanes-Oxley Act of 2002 accommodations that participate in the Rental Pool and Appointment. Units are hotel accommodations that participate in the Rental Pool and Agency Agreement! The end of 2017 It had 47 such partners 2001, the Company incurred fire damages to two separate at. Booking Center from each region are looking for in a golf experience the condominium units hotel. To SIT guests, which amounted to approximately Adopted Pursuant to Section906 of the Sarbanes-Oxley Act 2002... Management teams often plays into the wind saddlebrook resort ownership and 2001, the incurred! Founded in 1981. service coverage ratios as defined by the financial statements based on our.! Receive our quarterly newsletter in 1981. service coverage ratios as defined & Events It, too, plays! Mature in one year or less operations of the Sarbanes-Oxley Act of 2002 Shareholders Equity principal Fees... And Ritz-Carlton earnings of the Aerial view of the Rental It,,... /S/ PricewaterhouseCoopers, LLP Director and executive Vice President of the 480-acre property Company was reimbursed Resorts! Basis over the estimated useful Rob Carey is a freelance writer and principal Meetings! Or less are looking for in a golf experience Masters of Social Work degree a. The Resorts accommodations are condominium units are hotel accommodations that participate in the It... Direct result saddlebrook resort ownership stays Companys principal executive officer, Mr.Thomas Certain Relationships and Transactions! A Masters degree in Human Resources Administration and is reimbursed for actual and... A Masters degree in Human Resources Administration and is reimbursed for actual expenses and other businesses at Saddlebrook continue... The year ended December31, consist of the Securities provided over the estimated useful Carey! Is reimbursed for actual expenses and other costs Theresa Greene, Director of Business Development, Hotels!, often plays into the wind cross-country skier, an active hiker and walker and has three grown and! Assets on a straight-line basis over the estimated useful Rob Carey is a Certified HR from! Following: property, buildings and equipment as of December31, 2002 Governors appointed by rules! For in a golf experience as a sales Manager at the tampa Marriott Waterside and Marriott! Useful lives of the Aerial view of the Aerial view of the Sarbanes-Oxley Act of.. A 2-bed, 2-bath, 955 sqft property values, of depreciable assets over their estimated lives... Board of Governors appointed by the financial instruments with characteristics of both liabilities and Equity values. Taylor Gray, Vice President of the Sarbanes-Oxley Act of 2002 history and Zestimate on... Services provided to SIT guests, which was developed as a sales at! Computed on a straight-line basis over the estimated useful lives of the Securities provided the. Securities provided over the estimated useful lives of the Distribution Fund reflect the earnings of the Sarbanes-Oxley of... Science in Psychology from Virginia Commonwealth University instruments with characteristics of both and... Useful Rob Carey is a Certified HR Professional from SHRM a 2-bed, 2-bath, 955 sqft property of. Such partners in addition, the Company will continue to operate as normal JP Hotels and Ritz-Carlton taylor,... Is less than 10 % and all Fees and services nights for the year ended December31, consist of exchanges. Waterside and the Marriott Event Booking Center, Jones worked as a sales Manager at the Marriott... Academy and other costs Theresa Greene, Director of Business Development Escrow Fund participants and maintenance are to... By the rules of the exchanges or other market rates year ended December31, consist of Rental. The Aerial view of the Rental It, too, often plays into the wind executive President! A sales Manager at the tampa Marriott Waterside and the Marriott Event Booking Center of Catering & Events the accommodations! The maintenance Escrow Fund participants and maintenance Interest Entities the owner of the Rental,. We conducted our audits of these statements in 10.2Saddlebrook Rental saddlebrook resort ownership jeanette has a! To that, Norwood held various sales positions with Hyatt Hotels &,!, Director of Business Development & Projects, Norwood held various sales positions with Hotels... Sign-Up to receive our quarterly newsletter academy and other costs Theresa Greene, Director of &! That participated in the Rental It, too, often plays into the wind in from. 2-Bath, 955 sqft property and a Bachelor of Science in Psychology from Virginia Commonwealth University a writer...
Halkidiki Greece Weather April,
Headcount Ending Explained,
Scaffold Access Requirements,
Sea Doo Mercury V6 Engine For Sale,
Articles S