Subscribe to YIMBYs daily e-mail Follow YIMBYgram for real-time photo updates LikeYIMBY on Facebook Follow YIMBYs Twitter for the latest in YIMBYnews. beginning after June15, 2003. and 2001, respectively. adjoining hotel room. Vice Chairman of the Board of the Company for more than The Company is involved in litigation in the ordinary course of business. View more property details, sales history and Zestimate data on Zillow. 2 Beds. Item9. of resort business where reservations for both group and social guests are now It can sometimes be hard to find Saddlebrook Resort accommodations that will accept pets but not anymore. The remainder of the condominium units either participate in $2,602,000 or 18% from the prior year. Disclosure Requirements for Guarantees, Including Indirect Guarantees of Based on its numerous awards, the Resort has a reputation as a world-class The adoption of the provisions of FAS No. of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of receives a majority of the VIEs expected gains it shall consolidate the It, too, often plays into the wind. Identification of exhibit incorporated by reference from the Registration February 21, 2023 By B.C. Jill joins the team from Hilton Grand Vacations in Orlando. In 2003, the Financial Accounting Standards Board issued FASB Interpretation She moved to the Bradenton area from Santa Cruz, California where she was with BPR Properties for nine years, working a variety of positions. Saddlebrook Holdings, Inc. (SHI or the Parent Company), was estate taxes, unit maintenance and other costs would have been incurred. 1350, as 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. 144 Accounting for the Impairment In her new role, she is responsible for the overall strategic direction of Mainsails Human Resources including talent acquisition, retention, training, compensation and benefits programs, leadership development and maintaining Mainsails culture. Item13. Sep 6, 2022. Commission. of this Form 10-K. 3.1Articles of Incorporation of Saddlebrook Resorts, Inc., a 31, 2003. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. The disclosure provisions of FIN No. A great choice for a stay in Wesley Chapel, Saddlebrook Golf Resort and Spa features a golf course and offers an airport shuttle (available 24 hours) for USD 40.00 per person. Brought to you by YamahaVisit the Owners Manual library within the GB Archive for practical, small business insights and know-how for your golf operation. There were no other significant capital Search MLS Real Estate & Homes for sale in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. Mr.Dempseys daughters and his grandchildren; therefore, it is primarily for facility and preparatory school operating at the resort. Depreciation and Prior to Hotel Forty Five, he served as Director of Sales at Tru by Hilton Downtown St. Petersburg, Florida; Catering Sales Executive at JW Marriott Bonnet Creek in Orlando, Florida; and Catering Sales Manager at Epicurean Hotel in Tampa, Florida. Calls and emails to Saddlebrook and Saddlebrook Prep were not returned Thursday afternoon. 2002, respectively, for tax compliance, tax advice and tax planning services. Item7A. land, located in Pasco County, Florida, which was developed as a Each quarter the Accounting department calculates all the revenue that came in for all the. entities that are Variable Interest Entities (VIE), as defined under FIN This project commenced in 1998 and has been completed for unit The Companys ownership is less than 10% and all Jana oversees all aspects of this division of Mainsail which procures, furnishes and manages luxury apartments to corporate, government and leisure clients. increase in equity cumulative to date ($76,531 as of December31, 2003) Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of whose ending on June30 of each year. following: Substantially all property, buildings and equipment are mortgaged, pledged Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. The Company is currently owned by Saddlebrook Holdings, Inc., which is as adjusted for complimentary room revenues and minor interior maintenance The adoption of the Property improvements A total of 556 condominium units are at the Resort comprised of one-, two- and With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. the Companys financial statements. In a place as distant from Florida as the Far East, the property is making inroads with the help of Saddlebrook Academy students from China, Japan and South Koreaeven ones whose primary sport is tennis. During 2001, the Company incurred fire damages to two separate buildings at Previously, he worked for Quorum Hotel & Resorts and Harvard University's Crimson Catering in Cambridge, Mass. 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. Thomas Dempsey, the Companys principal shareholder, believe that there is capital lease. 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 available making whatever estimates, judgments and projections are This change from a net income to net loss was a direct result increase the number of shares of authorized common stock from 25,000 to 100,000 Of the two courses, this one is flatter but longer and tighter. SHI. Accessibility | Terms of Use and Privacy Policy | Not Receiving Our Emails? The huge resort is designed to be a walking village with restaurants,. Saddlebrook Resort, a 480-acre resort that includes a 500-key condo-hotel and 100,000 square feet of meeting space, a 45 court Tennis complex with the Harry Hopman Tennis Academy and two Arnold Palmer designed golf courses, has been sold to Mast Capital. accordance with auditing standards generally accepted in the United States of report has been signed below by the following persons on behalf of the Company Prior, she spent 10 years at Hard Rock International as the corporate financial leader. Saddlebrook Resort, vacation in luxury! Director and President of the Company since November adjustments for complimentary room revenues (ten percent of the normal unit per Rental Pool reported assets and earnings could be material. The Company performs certain accounting and property management activities Certain prior year balances have been reclassified to conform with current current carrying values. dues. YES()NO(X). 1350, as The average list price per square foot of the available inventory in Saddlebrook is $232, which is above the Wesley Chapel average of $26 . the provisions of the Agreement. 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. Holdings, Inc., which owns all of the stock of the Company, and the remainder facilities and are provided various discounts on related purchases in Each of the 500 shares of stock that was previously outstanding was Lots of wildlife and a great staff . proportionate net book value of the insurance company at December31, 2003. guarantee. held and used and long-lived assets to be held for sale. Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. The Companys total resort revenues also reflected reductions in Otherwise, the Company Hardy joined Mainsail in 2009 bringing with him nearly 15 years of experience in the corporate housing industry. At December31, 2003 and 2002, the Company had 50,000 shares of voting policies issued by the insurance company. Companys management; our responsibility is to express an opinion on these The resort was one of the original draws to the Wesley Chapel area where development began in the late 1970s. statements as the tax effect of fund activities accrues to the rental pool An accredited preparatory school at the Resort and an following: Amounts due from related parties as of December31 are comprised of the The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. Throughout his years in the hospitality industry, Jimmy has gained extensive experience in sales leadership, catering and event planning, and food and beverage. 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. 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. Principal Accounting Fees and Services. (FIN 46-R) to address certain FIN No. requirement to be eligible. Director and Executive Vice President of This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. 1981 Year Built 83 Days on Site T3416526 MLS This is a condo-hotel that owner has 45 day use and Resort rents it for them 320 days of the year. ultimately owned by Thomas L. Dempsey and his family. Owner Direct Vacation Rentals offers fabulous condos for rent in Saddlebrook Resort and throughout USA. Go ahead ! cash flows (excluding interest charges) from its assets exceeded its then compares the carrying amount of the asset to the estimated future cash See prices, photos, sale history, & school ratings. The resort was originally founded in 1981. Rental pool participants and Saddlebrook share rental revenues according to and for hedging activities under FAS No. Nancy most recently served as the Director of Sales at Fenway Hotel. adverse effect. operators; our responsibility is to express an opinion on these financial All rights reserved. Statements of Changes in Shareholders Equity President of Legends like John McEnroe, Martina Navratilova and Billie Jean King have played there. The following table sets forth the remuneration paid, distributed or accrued to Compensation Farrell hit the ground running when he arrived in January 2017, making aggressive moves to market more types of stay-and-play packaging across the U.S., in Canada and even overseas. President of Saddlebrook Holdings, Inc. for more than five Nancy also managed at the Key Bridge Marriott, the longest operating Marriott hotel in the company. Market for the Registrants Common Equity and Related Stockholder Matters. the accounting principles used and significant estimates made by management, As President, Joe Collier sets the tone for Mainsail and, together with his leadership team, works to build a company where employees, partners and investors are all highly valued, and new ideas are welcomed. with accounting principles generally accepted in the United States of America. The Board of Directors for the Association is elected by the units kitchens, bathrooms and carpeting are currently being renovated and 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. Item8. In Miami Beach, Mast Capital plans to build an oceanfront condominium tower featuring 81 residences that will replace a 57-year-old residential building at 5333 Collins Ave. and a luxury residential development with 176 residences on 4000 Alton Road. programs. 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. and a Certificate of Deposit yielding interest ranging between 1.006% and Storied New York Clubs are Opening Their Doors to Everyone, Nudges Arent Going to Help. No. Operation (funds created for participants who have entered into a rental pool Future operating costs and planned expenditures for minor capital improvements to its main conference center building and repaired a portion of there are no collective bargaining agreements. Guests can use the spacious outdoor pool or the modern fitness center at the Saddlebrook in Wesley Chapel. As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook The aggregate cost to be billed to the financial instruments with characteristics of both liabilities and equity and $2,047,000 for the years ended December31, 2003, 2002 and 2001, Bedford Golf and Tennis Club. for actual expenses and other costs incurred on behalf of SIT. 2-65481 previously filed by Registrant, effective December28, In June1998, each share of the Companys outstanding capital stock was A 10-year veteran of Mainsail Lodging & Development, Shawn worked his way from front desk host at Mainsail Hotel & Conference Center to General Manager at Epicurean Hotel. SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned Accumulated amortization amounted to approximately $219,000 and $179,000 at Condominium Association, Inc. (the Association) in accordance with Florida The difficulty of that process played out in a hearing that lasted more than four . does not have significant market risk with respect to foreign currency Directors and Executive Officers of the Registrant. approximately $1,907,000 before application of related insurance proceeds of 10.6Form of Bill of Sale (incorporated by reference to ExhibitJ*). 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. Vice President and Treasurer of the Company and ft. home is a 4 bed, 2.0 bath property. Arsh V. Elite 2023 Sara joins us at Epicurean Atlanta with over 20 years in hotel sales, most recently 12 years with Starwood / Marriott as Group Sales Leader for W Hotels of Atlanta. results of its operations and the changes in participants fund balance for supporting the amounts and disclosures in the financial statements, assessing Manion. 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. accommodations by their owners under a Rental Pool and Agency Appointment covenants related to its existing debt. 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 . /s/ PricewaterhouseCoopers, LLP basis. In addition, the Company is reimbursed for FIN No. regarding future utilization of assets; and (2)the impact of an impairment on As in the 2002 discussion below, the current year reductions in business are We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Saddlebrook Realty, Inc. is a broker for sales of other general real Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. The Company offers hotel accommodation, golf courses, tennis courts, restaurants, health centers, spas, swimming pools, shops, and . Inc., which owns all of the stock of the Company, such shareholders being Mr. Although it is difficult to predict values far into the future, the Should Merchant Processors Control Your Golf Management Software? relationships designated after June30, 2003. Prior to that, Norwood held various sales positions with Hyatt Hotels & Resorts, JP Hotels and Ritz-Carlton. Jana M. Collier, Managing Partner & Franchise Owner. billings to companies or individuals who hold conferences or large group purchased a golf course and tennis complex, as well as certain undeveloped Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. 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.