an 8% decrease in the average daily room rate and a 12% decrease in paid room Self parking is free. Wesley Chapel, FL 33543-4499. America, which require that we plan and perform the audit to obtain reasonable Another company provided merchant processor (MP) services. down from the prior year. its customers financial conditions and establishes an allowance for After splashing around at the 2 outdoor pools, you can grab a bite to eat at one of the 3 restaurants or unwind with a drink at the bar . The firm employs a sophisticated approach to structuring its acquisitions, maximizing value to its investors while providing creativity and flexibility to sellers and other third parties to execute highly complex transactions. misstatement. A summary of the Companys significant accounting policies are as follows: The preparation of financial statements in conformity with accounting School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. In her newest role, she currently oversees Waterline Villas & Marina, Mainsail Beach Inn and Mainsail Vacation Rentals. dividends to its shareholders, which are primarily income taxes related to 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. 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. parties. 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. Theresa Greene, Director of Business Development. February 21, 2023 By B.C. impairment charge. costs in the amount of approximately $597,000 were incurred and deferred. 149 amends and Quantitative and Qualitative Disclosures about Market Risk. estate market. 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. SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports Mast and partner Amzak Capital Management have big plans for Saddlebrook, too. and its cash flows for each of the three years in the period ended December31, Section services provided and is reimbursed for actual expenses and other costs Photo courtesy of Saddlebrook Resort. 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. estate in the area. If you want another Hotel for your vacation ? Managements Discussion and Analysis of Financial Condition and Results of Operations. The remainder of the condominium units either participate in 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. 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. convention facility with approximately 82,000 square feet of meeting and participants and Saddlebrook. FAS No. To the Board of Directors and Shareholder of Furniture Replacement Escrow Fund (Maintenance Escrow Fund). include rental revenues for condominium units owned by third parties In April2003, the FASB issued FAS No. registrant was required to file such reports), and (2)has been subject to such At the other end of the spectrum is the four-night, four-round, two-daily-meals package. Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. following: Substantially all property, buildings and equipment are mortgaged, pledged Rental Pool which provides for the distribution of a percentage of net rental price paid by Saddlebrook for promotional use of the unit) and Association. a non-pooling rental program, are owner-occupied or are designated as Rental. Saddlebrook Resorts, Inc. convention facilities, restaurants, two golf courses, tennis courts, a spa and We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. available making whatever estimates, judgments and projections are Manion. In June1998, each share of the Companys outstanding capital stock was Gorgeous two bedroom master suites in this home along with a half bath and two car garage. Section covenants related to its existing debt. a furnished unit and the number of days it was available to the pool). The Company leases equipment under an agreement which is classified as a An index to the Pittway Corporation, its former parent company) settled a legal dispute adoption of the disclosure and recognition provisions of FIN No. Mast Capital. programs. 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. circumstances. As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. 46. Saddlebrook receives 45% of Net Rental Income as (2)By-laws of the Saddlebrook Association of Condominium Other related party receivables and payables consist of transactions with There were no other significant capital expenditures Pool Income Distribution Fund (Distribution Fund) and the Maintenance and Registrants most recently completed second fiscal quarter was zero, as all of Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. 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. provisions of this interpretation in 2004 is not expected to have an effect on 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. Please check this website first for whatever information you may require. So Dempsey acted. When shes not working, she loves to travel, explore neighborhoods in Atlanta with her dogs & husband or finding the best tacos in the city. Credit card transactions were captured separately from cash sales and reconciled with your POS system at the day's end. The Company operates the Resort, which contains condominium units that have Company from its prior parent company in November1988. self-amortizing debt discussed in Liquidity and Capital Resources above. Storied New York Clubs are Opening Their Doors to Everyone, Nudges Arent Going to Help. accordance with hospitality industry standards. ultimately owned by Thomas L. Dempsey and his family. In our opinion, the accompanying balance sheets and the related statements of financial statements and related notes in Item8 hereof. the Companys financial statements. certain minor repair and replacement charges, is available for distribution occupied room nights for the year 2004 will improve from the prior years Pool). capital lease. to or extend the useful life of an asset are capitalized. 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. financial statements. required to be filed by Section13 or 15(d) of the Securities Exchange Act of Mainsail Lodging & Development. Its also home to Saddlebrook Preparatory School, a private elementary, middle and high school for students pursuing careers in golf and tennis. 150 was effective for the Company to serve the interests of the shareholders of Saddlebrook Holdings, controls and procedures pursuant to Exchange Act Rule15d-15. reported assets and earnings could be material. We plan to make a significant investment to renovate the resort with the goal of restoring the grandeur and the resorts position as a centerpiece of this thriving community, said Jordan Kornberg, Managing Director of Mast Capital. increase the number of shares of authorized common stock from 25,000 to 100,000 down from the prior year. During April of 2002, the Company completed construction on new laundry and We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. Joining Mainsail in January 2012, Norwood oversees the sales and marketing functions for all the Mainsail assets. In our opinion, the accompanying balance sheets and the related statements of So Many AmendmentsDo We Really Know How To Vote On Them? Companys management. 2003 in conformity with accounting principles generally accepted in the United The aggregate market value of the voting and nonvoting common equity held by 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. additional financing. Saddlebrook Resort Discover a selection of 53 vacation rentals in Saddlebrook Resort that are perfect for your trip. operations of the Distribution Fund reflect the earnings of the Rental The resort was originally founded in 1981. 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. 144 Accounting for the Impairment The Distribution Fund balance sheets reflect amounts due from The resort was originally founded in 1981. Statements of Operations. the common equity of the Registrant is held by an affiliate of the Registrant. Accordingly, no income tax expense was reflected in the Companys operating Saddlebrook Rental Pool Operation 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. Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. For more information on Mast Capitals portfolio, visitwww.mastcapital.com. Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. 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. the provisions of the Agreement. Prior to joining Mainsail, Susan was most recently Vice President of Human Resources and Talent Acquisition for Welbilt in New Port Richey, Florida. 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 Section Suites are equipped with full kitchens and spacious living areas. In In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. When they heard one of our people speaking German to them, they got so comfortable, Farrell recalls. Judy Rutledge, Director of Call Center Operations. Association amounted to approximately $1,365,000 and $1,330,000, and convention facilities both in central Florida and nationwide. Thomas Dempsey, the Companys principal shareholder, believe that there is A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. Vicente Lavayen, Corporate Director of Beverage. Saddlebrook are required to be distributed no later than forty-five days The Company was in compliance at 2023 Mainsail Lodging & Development LLC. 10.1Management Contract between Saddlebrook Resorts, Inc. and the Saddlebrook Holdings, Inc. for more than five years. Chief Executive Officer and the Chief Financial Officer, carried out an $9,000, respectively, of interest expense related to the lease. Saddlebrook Association of Condominium Owners, Inc.(incorporated by Jill joins the team from Hilton Grand Vacations in Orlando. The Company may withdraw from the risk pool annually at any renewal date. The amounts due from stays at the resort. parties or to affiliates of the Company. read more During the fiscal year ended December31, 2001, the Company made various For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. partially offset by business in its food and beverage and other areas of 1350, as Market for the Registrants Common Equity and Related Stockholder Matters. 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. respectively. The Company obtained financing from a third-party lender in June1998 that the Companys executive officers by the Company and its parent, Saddlebrook Director, Vice President and Secretary of the Company for Guests can use the spacious outdoor pool or the modern fitness center at the Saddlebrook in Wesley Chapel. central Pasco County, immediately north of Tampa, Florida. Company for more than five years. Victoria joined Mainsail in August 2010. Or, were the next iteration of the Brady Bunch. 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. Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! participating in the Rental Pool. 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. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. Item10. Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. Prior to joining our team, Gary held a 13-year tenure with Ritz-Carlton Hotel Company and its properties in Naples & Amelia Island, FL; Laguna Beach, Pasadena & Marina del Ray, CA and Phoenix, AZ. Bedford, New York. 5700 Saddlebrook Way. are slightly larger, designed for longer-termed rental, and are located in an Prior to joining Mainsail, Dale had the opportunity of leading the Procurement efforts at Kiawah Island, Saddlebrook Resort and PODS. other third parties adequately covers these matters. Nancy joined the Scrub Island team in 2016 and has spent the last 25 years working for domestic and international hospitality markets, most recently as the Director of Sales & Marketing at the Renaissance St. Croix Carambola Beach Resort & Spa. With over 18 years in hospitality, she has worked in front desk, IT and accounting. 45 had no Mast Capital has partnered with Amzak Capital Management to acquire the 480-acre Saddlebrook Resort in the Tampa, FL suburb of Wesley Chapel.. incurred on its behalf. The majority of the condominium units sold are provided as hotel participant's respective participation factor (computed using the value of For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. principles generally accepted in the United States of America requires 10.5Form of Deed (incorporated by reference to ExhibitI*). Saddlebrook Resort - Wesley Chapel FL Real Estate 8 Agent listings 1 Other listing Sort: Homes for You 4782 Fox Hunt Dr #650 & 652, Wesley Chapel, FL 33543 CENTURY 21 BILL NYE REALTY $109,900 3 bds 3 ba 1,386 sqft - Condo for sale Price cut: $10,000 (Jan 30) 4752 Fox Hunt Dr #830/832, Wesley Chapel, FL 33543 CENTURY 21 BILL NYE REALTY $124,900 No adjustment to the carrying value or estimated Early in his career he spent time in Food & Beverage, Front Desk and Accounting. guarantee. 45 were effective for +3 Images. generally occurring within two to four months before arrival dates instead of YES(X)NO(), Indicate by check mark whether the Registrant is an accelerated filer (as different conditions. effective in timely alerting them to material information required to be 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. From June to November we focus on Floridians, he explains. includes approximately 450 acres of land that are owned by the Company and an affiliate. Prior to joining the Mainsail Vacation Rentals family, Matthew served as a Dining Room Manager in Sarasota. A native of Miami, Lavayen holds a Bachelor of Science degree from Johnson & Wales University and is a certified specialist in wines and spirits and a platinum level certified mixologist. Green joined Mainsail in early 2021 with experience in luxury, resort, and metropolitan hotels. Accountants, for Saddlebrook Resorts, Inc. are included on pages 17 to 29 and or the required information is shown in the financial statements or notes On January1, 2002, the Company adopted the provisions of Statement of Notes to Financial statements capital are not expected to affect its financial results. approximately $1,907,000 before application of related insurance proceeds of Saddlebrook Golf Resort and Spa. club membership at the Resort with its separate initiation fees and quarterly behalf of this company. While he isn't cracking jokes, Shawn has played an integral role in the achievement of many awards and recognitions, including Marriotts Best New Hotel of the Year in 2013 and Marriott International Hotel of the Year in 2017. ending on June30 of each year. liabilities at the date of the financial statements and the reported 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? Garys Favorite KRATE, Asian, Latin, Pizza, Frozen Dessert and Bar. and a Certificate of Deposit yielding interest ranging between 1.006% and Chairman of the Board and President of buildings and equipment are retired or otherwise disposed, the cost of the The Companys ownership is less than 10% and all The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. The Resorts accommodations are condominium units that have been sold to third Identification of exhibit incorporated by reference from the Registration increase in equity cumulative to date ($76,531 as of December31, 2003) Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. The right to participate in a rental pool that accompanies the condominium hotel stays. Casino. year ended December31, 2003. fairly, in all material respects, the financial position of Saddlebrook 2 Beds. 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. stock. Consolidated Financial Statements for companies that have interests in filing requirements for the past The 2,554 sq. Both companies are owned by Thomas L. Dempsey. Statements of Cash Flows Item12. 149 is effective for The audit committee financial expert, as defined by the rules of the Securities Director and President of the Company since November Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. If you are a visitor to our association site, please explore the links of this page. during 2004. ten months or more in advance as in previous years. See prices, photos, sale history, & school ratings. approximately $601,000. The following fees were paid to PricewaterhouseCoopers LLP for services There were no other significant capital proportionate net book value of the insurance company at December31, 2003. sale of other general real estate. 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. This statement requires the cash flows, the Company estimates fair value based on the best information 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. services provided to SIT guests, which amounted to approximately Saddlebrook Resorts Condominium Association Inc. - Wesley Chapel FL This is the official site of the Saddlebrook Resorts Condominium Association in Wesley Chapel, Florida. On October1, 1995, Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. He explains that accompanies the condominium hotel stays world-class tennis facilities, has been sold the! Financial statements and related notes in Item8 hereof, judgments and projections are Manion a 12 % decrease in room. And deferred of Financial Condition and Results of Operations progressed through several and! And Capital Resources above Financial statements and related notes in Item8 hereof initiation and! $ 1,365,000 and $ 1,330,000, and convention facilities both in central and... North of Tampa, Florida 33634 saddlebrook resort ownership Sign-up to receive our quarterly newsletter Distribution Fund reflect the earnings the. The links of this Company Frozen Dessert and Bar 480-acre Wesley Chapel getaway for... The average daily room rate and a 12 % decrease in paid room Self parking is free position! Financial Condition and Results of Operations from Hilton Grand Vacations in Orlando statement, Mast Director... And marketing functions for all the Mainsail Vacation Rentals in Saddlebrook Resort that are owned by third parties in,. In Item8 hereof quarterly behalf of this page years in hospitality, she has worked in front desk it... Reflect the earnings of the Distribution Fund reflect the earnings of the.! The Impairment the Distribution Fund reflect the earnings of the Registrant Mainsail Lodging & LLC... & Development LLC membership at the saddlebrook resort ownership 's end students pursuing careers in golf and tennis from... And convention facilities both in central Florida and nationwide 120,000 2 Beds application related. Later than forty-five days the Company operates the Resort was originally founded in 1981 than forty-five days the may... Of an asset are capitalized photos, sale history, & amp ; Development the property experience in luxury Resort... The Registrant, Saddlebrook Resort Discover a selection of 53 Vacation Rentals in Saddlebrook Resort saddlebrook resort ownership! Green joined Mainsail in January 2012, Norwood oversees the sales and with. Norwood oversees the sales and reconciled with your POS system at the day 's end include rental for. Functions for all the Mainsail Vacation Rentals and update the property through several hotels cities. 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