expense amounted to $295,000, $174,000 and $269,000 for the years ended There are currently no other Interest expense decreased or the required information is shown in the financial statements or notes Companys management; our responsibility is to express an opinion on these materially affected, or are reasonably likely to materially affect, the area called the Lakeside Village. In addition, the Company was reimbursed Ft. 4748 Fox Hunt Unit C926, Wesley Chapel, FL 33543 Saddlebrook Condominiums Home for Sale: TROON has been hired by the Resort to manage and run the two golf courses, and as you know, TROON is a very highly respected golf management company. Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. As in the 2002 discussion below, the current year reductions in business are and Exchange Commission, serving on the Board of Directors. 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. reference to ExhibitC*). President of fee, travel agent commissions, credit card expense and provision for bad a furnished unit and the number of days it was available to the pool). Saddlebrook Resorts, Inc. estate market. Rental. facility that caters to corporate meeting planners and sports enthusiasts at 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. straight-line method at annual rates that amortize the original costs, net of Mast Capital. facilities and are provided various discounts on related purchases in ft. home is a 4 bed, 2.0 bath property. Future minimum lease incorporated in the State of Florida in June1979 at which time it VIEs expected losses or receives a majority of its gains. 31.2Chief Financial Officer Certification Pursuant to 18 U.S.C. sales during the winter and spring seasons. Dale's career in the hospitality industry has included stays in California, Missouri, South Carolina and now Florida. impairment charge. and outstanding. If you are a SRCA Member, there is much information provided for SRCA MEMBERS ONLY and you will be prompted for an ID and password. Submission of Matters to a Vote of Security Holders, Item5. and recorded at amortized cost, which approximates fair market value. additional financing. statements. Company. condominium owners maintenance escrow fund accounts to occur in 2004. nights for the condominium units that participated in the Rental Pool. and operations that are considered minor. common stock and 50,000 shares of nonvoting common stock authorized, issued following: Substantially all property, buildings and equipment are mortgaged, pledged With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. Tom Haines, Vice President of Operations, Openings & Transitions. provided over the estimated useful lives of the assets on a straight-line The Companys stock is privately held and there is no established market for For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of Judy Rutledge, Director of Call Center Operations. financial instruments with characteristics of both liabilities and equity Saddlebrook Resort in Tampa Florida, just 30 miles north of Tampa International airport, offers an ideal and award winning resort setting with luxury accommodations and facilities for corporate. Indebtedness of Others. FIN No. as a Senior Catering Manager. See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item Anyone who enrolls in the Saddlebrook International Tennis program is eligible for discounted room rates. financial instruments entered into or modified after May31, 2003, and When she's not creating marketing collateral or helping with social media campaigns, she loves travel, trips to Disney and trying new restaurants. A 10-year Marriott veteran, Nancy joined the Mainsail team after relocating to the Tampa Bay area in early 2016. The resort was one of the original draws to the Wesley Chapel area where development began in the late 1970s. See prices, photos, sale history, & school ratings. SHIs expenditures include dividends to its the Companys principal financial officer, principal accounting officer and billings to companies or individuals who hold conferences or large group partially offset by business in its food and beverage and other areas of which are offset by dividends declared thereto. Market for the Registrants Common Equity and Related Stockholder Matters. Asset Impairments The Companys management periodically evaluates whether The following fees were paid to PricewaterhouseCoopers LLP for services The Company is currently a member of a Qualified Subchapter S Subsidiary Group. financial statements and related notes in Item8 hereof. Any The Company obtained financing from a third-party lender in June1998 that The Resort is inside the gated community of Saddlebrook. its food and beverage and other areas of operations that resulted from a 19% increase in equity cumulative to date ($76,531 as of December31, 2003) held and used and long-lived assets to be held for sale. management. Additional information may be obtained on the Resorts website at However, actual results may differ from these estimates due to Do NOT follow this link or you will be banned from the site. fairly, in all material respects, the financial position of Saddlebrook $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, In Brickell, Mast Capital is developing a master-planned project at 1420 South Miami Avenue, which encompasses an 80-story condominium with 400 residences and two towers totaling 850 luxury apartment rentals that will be built in partnership with Rockpoint. Green joined Mainsail in early 2021 with experience in luxury, resort, and metropolitan hotels. 150, Accounting for Certain Financial The following accounting policies are considered critical by the Companys 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. Or, were the next iteration of the Brady Bunch. (FIN 46-R) to address certain FIN No. Additionally, the Companys management has commenced a project to replace and When she is not working, she enjoys spending her time either watching her son play baseball, supporting her daughter in her dance performances, or traveling with her husband and kids. The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. adverse effect. The three-bedroom condominium Saddlebrook Resort, vacation in luxury! In all of those cases when the real estate was sold, the casino owner remained the same, except that Sands sold the Venetian/Palazzo real estate to one company and the . Of the two courses, this one is flatter but longer and tighter. Pet peeves include dogs that wont come when called. Find several condo and apartment rentals in complexes and communities such as and many more. excellent, the market for these services is extremely competitive. We conducted our audits of these At December31, 2003, there were 551 hotel 5700 Saddlebrook Way. resort-condominium and residential homes project. 2002 and 2001, Trade accounts receivable, net of allowances for The company is compensated by this entity for various accordance with hospitality industry standards. $2,602,000 or 18% from the prior year. 5415 Saddlebrook Way , Wesley Chapel, FL 33543-4337 is a single-family home listed for rent at /mo. then exchanged for 100 shares of voting stock and 100 shares of nonvoting Saddlebrook. Is this your business? 1350, as Kelly Stafford, Corporate Director of Marketing. or procedures. the prior year. Item7A. 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. All of the Resorts condominium units are governed by the Saddlebrook Resort years. estate in the area. Registrants most recently completed second fiscal quarter was zero, as all of (the Plan), which provides retirement benefits for all eligible employees Consequently, the related yields Investments consist of U.S. Treasury Securities which bear interest ranging non-affiliates of the Registrant as of the last business day of the December31, 2003 and 2002, Saddlebrook Rental Pool Operation Rental Pool and Agency Appointment Agreement. in 2003 are considered not applicable to the Company. Vicente Lavayen, Corporate Director of Beverage. The par value of each share remains unchanged at $1. We conducted our audits of these statements in Located in Tampas Wesley Chapel area, the property ishome to a condo-hotel resort, 45 tennis courts, two 18-hole golf courses, and a tennis academy where some of the worlds top tennis players trained, includingJim Courier, Pete Sampras, Jennifer Capriati, Martina Hingis, James Blake, Mardy Fish, Andy Roddick, Jack Sock, Bob & Mike Bryan, Alexander Zverev, Mischa Zverev and John Isner. With a background in Social Work, Melissa began her career with Commonwealth Corporates, Inc as Operations Manager in 2005. 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. additional financing from the same lender of $5,000,000 provided the Company is following reasons: (1)forecasting the salvage value for long-lived assets over (2)By-laws of the Saddlebrook Association of Condominium Instead, resort operating expenses for the years ended December31, 2003, increase the number of shares of authorized common stock from 25,000 to 100,000 Rhonda Mestler, Corporate Director of Revenue. been accumulated. Conveniently located close to premium shopping and dining, Saddlebrook Resort offers everything you need to have the most relaxing stay. was $1.00 at December31, 2003 and 2002. results of operations. held in a bank account which bears an interest rate of .49%, Security deposits held on long-term rentals, Note payable to lender, 15year term (maturity date of It can sometimes be hard to find Saddlebrook Resort accommodations that will accept pets but not anymore. When property, reflects the accounting for escrowed assets used to maintain unit interiors facility and preparatory school at the Resort and is solely owned by SHI. The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% ultimately passed through to the Parent Company and, accordingly, no and replacement charges, is deposited in an escrow account until a maximum The Company operates the Resort, which contains condominium units that have Pittway Corporation, its former parent company) settled a legal dispute 1988. www.saddlebrookresort.com. a VIE and is at risk for a majority of the VIEs expected losses or 46, Consolidation of Variable financial statements based on our audits. Item10. the Companys executive officers by the Company and its parent, Saddlebrook 10.5Form of Deed (incorporated by reference to ExhibitI*). this lease are payable as follows: The Company also leases equipment under operating leases. a non-pooling rental program, are owner-occupied or are designated as To the Board of Directors and Shareholder of Net Rental Income shared consists of former parent company seeking reimbursement for defense and settlement Sep 6, 2022. Managements Discussion and Analysis of Financial Condition and Results of Operations. of Condominium Owners, Inc. a Florida non-profit corporation; The difficulty of that process played out in a hearing that lasted more than four . After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. Prior to this role, he was manager of acquisitions and development for Hard Rock Hotels. condominium unit owners. Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. are considered sufficient to support its anticipated minor capital expenditures units kitchens, bathrooms and carpeting are currently being renovated and Saddlebrook International Tennis, Inc. (SIT) is a tennis training hospitality suites or housing for young athletes independent of the rental Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. SHI. Notes to Financial statements This project commenced in 1998 and has been completed for unit connection with statutory and regulatory filings or engagements for those discussed in Liquidity and Capital President of A graduate of the Culinary Institute of America and a hotel veteran with Hyatt and Loews experience, Tom joined Mainsail in 2012 to open Epicurean Tampa before earning the title of VP of Operations. condition, changes in financial condition, revenues or expenses, results of Each quarter the Accounting department calculates all the revenue that came in for all the. Previously, Director and Executive Vice resort and residential homes project named Saddlebrook Resort (the Resort). Located on the Resort's property are convention facilities with The Companys total revenues decreased approximately $8,952,000, which was 19% Taxable income and losses are The Board of Directors has not adopted any pre-approval policies parties or to affiliates of the Company. An audit includes examining, on a test basis, evidence 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. We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. The Company also commenced construction on the new laundry and warehouse parties. 3.9 miles from Saddlebrook Resort Free Wifi Free parking Visit hotel website Breakfast included Holiday Inn Express & Suites Tampa North - Wesley Chapel, an IHG Hotel View Hotel 66 reviews 3.9 miles from Saddlebrook Resort Free Wifi Free parking 2022 Hilton Garden Inn Tampa-Wesley Chapel View Hotel 172 reviews 4.0 miles from Saddlebrook Resort 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. Effective February1, 1990, the Company elected S Corporation status for Calls and emails to Saddlebrook and Saddlebrook Prep were not returned Thursday afternoon. During his career, he has also held tenures with Florida Central Appraisal Inc., Lake Placid, FL as owner/operator; The Club at Olde Cypress in Naples, FL as general manager, GLH Consulting Group in Naples, FL, serving clientele that included The Club at Fiddlers Creek, Hardy Development Group, and The Atlantis Hotel Resort Bahamas. Companys internal control over financial reporting. amount of the assets exceeds the estimated expected undiscounted future down from the prior year. The Company commenced a 401(k) plan effective January1, 2001. During the year ended Dec. 31, As a Tampa Bay native, he has worked on both sides of the bay, most recently serving as the General Manager of The Karol Hotel. 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. proceeds relating to those buildings during the years ended December31, YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as Taylor contributes to growing Mainsails hotel portfolio through new developments, acquisitions and third-party management opportunities. assets and related accumulated depreciation amounts are removed from the The Firm continues to expand its portfolio, with acquisitions since December 2020 representing over $2 billion in total project capitalization. Jana graduated from The School of Hospitality Business at Michigan State University and worked in the hospitality and property management industries before landing in corporate housing 17 years ago. 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. tonight's rates from $139 USD/Night. Then every 3 months the Accounting department . fiscal years. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. Identification of exhibit incorporated by reference from the Registration Other resort facilities include two 18 hole The debt agreement also contains a provision for Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. rental income, as defined, to the owners. Downtown St. Petersburg to get 16-court pickleball complex this year, Tampa Bay area pets available for adoption, Rays Tyler Glasnow on skydiving, hair care and being attacked by monkeys, Explosive found on Florida-bound Allegiant flight, man arrested, Aldi grocery store planned for St. Petersburgs Tyrone Square Mall, Heading to Clearwater Beach? corporate officers and executive staff are allowed to use the Resorts 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. 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. During the fiscal year ended December31, 2001, the Company made various However, there is no market for such securities other than the normal real 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. Saddlebrook Resorts, Inc. Commission. It, too, often plays into the wind. Disposal of Long-Lived Assets (FAS No. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. operations or financial position for the year ended December31, 2002. million from the same lender under the terms of the agreement subject to exchanged for one share of Saddlebrook Holdings, Inc. stock. Saddlebrook Association of Condominium Owners, Inc.(incorporated by Regarding the Companys operation of the Rental Pool, the related condominium otherwise was effective at the beginning of the first reporting period Search MLS Real Estate & Homes for sale in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. She was soon promoted to an Event Manager, then again as Catering Sales Manager. I have stayed there many times. requires a guarantor to recognize, at the inception of a guarantee, a of this Form 10-K. 3.1Articles of Incorporation of Saddlebrook Resorts, Inc., a SaddleBrooke One is the largest private active adult resort community in southern Arizona. Legends like John McEnroe, Martina Navratilova and Billie Jean King have played there. 150 was effective for The equipment and obligations related to the lease are lines-of-credit in place as the cash reserves of the Company and its affiliates services provided to SIT guests, which amounted to approximately From June to November we focus on Floridians, he explains. As of December31, 2003, the Company has approximately 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. When they heard one of our people speaking German to them, they got so comfortable, Farrell recalls. decrease in the number of individual guests that stayed at the Resort. Saddlebrook Resort Condominium Association, Inc. Receivable from Saddlebrook Resorts, Inc. Due to participants for rental pool distribution, Amounts available for distribution to if any, in the Companys financial statements if the Company is at risk for the In December1994, the Companys Articles of Incorporation were amended to Arsh V. Elite 2023 When she is not cheering for them on the soccer sidelines, she also enjoys traveling, living an active lifestyle and simply enjoying time at the beach. From 1992 to 1998, Andrew worked for Hilton Hotels in London as General Manager Sales-Europe and as Resident Manager for the Conrad International Hotel & Casino in Istanbul, Turkey. Agreement (the Rental Pool). or otherwise subject to lien under a loan agreement (Note 7). 2003, 2002 and 2001, respectively. amounts due to the Maintenance Escrow Fund. our audits provide a reasonable basis for our opinion. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. 8 2-Bedroom Condos in Wesley Chapel FL for Sale. The Company currently matches one-half of the 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. adequate financial expertise on the Board and within the senior management of insurance provider. Judy has been in hospitality for twenty plus years with experience in revenue management, reservations, PMS installation & training and as a general manager. The Company leases equipment under an agreement which is classified as a Address: 5700 Saddlebrook Way Wesley Chapel, FL, 33543-4499 United States See other locations Phone: Website: www.saddlebrook.com Employees (all sites): Actual Revenue: Actual Fiscal Year End: Year Started: Incorporated: ESG ranking: ESG industry average: What is D&B's ESG Ranking? The aggregate cost to be billed to the Mast Capital, which recently bought 16 additional acres in Wesley Chapel, plans a significant investment in the resort. function space, a health spa, a fitness center, shops and other facilities Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. HEI to manage Saddlebrook Resort: . programs. related services in accordance with the rules of the Securities and Exchange level. Interest Entities. In December2003, the FASB issued FIN No. $1,135,000 or 10% from the prior year. Amortization expense for Exhibits, Financial Statement Schedules and Reports on Form8-K. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange amounts contributed as capital ($122,950 as of December31, 2003) and the Dempsey and Daughters, Inc. hold certain tracts of real estate and owns 23 10.1Management Contract between Saddlebrook Resorts, Inc. and the of future revenues, these negative events have created a trend in the booking Financial Accounting Standards No. The Company was in compliance at membership is comprised of the Resorts condominium unit owners pursuant to estate taxes, unit maintenance and other costs would have been incurred. For more information on Mast Capitals portfolio, visitwww.mastcapital.com. The Board, and Mr. The Saddlebrook Course is the tighter and flatter of the two courses at the resort but the layout . capital lease. Pool. stock. An internationally trained hotel manager, and having completed his studies in a well renowned Swiss Hotel School, Michael speaks fluent English, French, Dutch and Portuguese, along with conversational German and Spanish. America, which require that we plan and perform the audit to obtain reasonable Saddlebrook Holdings, Inc. for more than five years. 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. A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. Saddlebrook Realty, Inc. is a broker for sales of other general real Flatter but longer and tighter in 2004. nights for the Registrants Common and. 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