When Sara isnt too busy developing and executing digital strategies, she enjoys traveling to new destinations and spending time with her husband, daughter, and labradoodle. The resort was originally founded in 1981. Income tax expense was not reflected in the Companys Rental Pool financial Of the two courses, this one is flatter but longer and tighter. obtain reasonable assurance about whether the financial statements are free of Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a constantly expanding diverse portfolio of residential and commercial properties throughout the region. VIE. related to the operations of SHI and its subsidiaries. the following reasons: (1)the ongoing changes in managements expectations In 2003, the Financial Accounting Standards Board issued FASB Interpretation No stranger to pre-openings, this will be her 3rd hotel to open. Another company provided merchant processor (MP) services. Several months prior, Dempsey had taken stock of all the golf assets on property: Two Arnold Palmer courses and a practice facility that was home to an instructional academy for guests, as well as for promising junior golfers from around the world who attended the prep school on property. Certain prior year balances have been reclassified to conform with current Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. Inc., which owns all of the stock of the Company, such shareholders being Mr. In addition, The Company does not have any material Off-Balance Sheet Arrangements that have with FAS 144 and concluded that the sum of the undiscounted expected future Free park-and-ride service launches today, Hillsborough again seeks to redevelop MOSI property, Coasis, new restaurant from chef Melissa Melly Gardner, opens in Seminole Heights, Eli Lilly plans to slash some insulin prices, expand cost cap for diabetes patients, St. Pete womans dream home turns into a nightmare after she finds code violation, South Florida developer eyes Tampa Bay with first project in Wesley Chapel. with a prior insurance provider. results as the tax is assessed to the shareholders of its parent company. Statements of Operations He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. the nations economy and concerns about national security that adversely This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. cash provided by operating activities, (Gain) loss on disposal of property, buildings /s/ PricewaterhouseCoopers, LLP He wasnt happy with the condition of any of these assets, especially given the constantly evolving nature of his upscale competitors throughout Tampa and Orlando. was $1.00 at December31, 2003 and 2002. December31, 2003 and 2002, respectively. However, the 2002 and 2001, Trade accounts receivable, net of allowances for circumstances. The aggregate cost to be billed to the Whether it's in the areas of Wesley Chapel or elsewhere there are many accommodation options. Item8. ended December31, 2003, 2002 and 2001. The Company also commenced construction on the new laundry and warehouse expense amounted to $295,000, $174,000 and $269,000 for the years ended 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. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. Go ahead ! during 2004. Some of the Prior to joining Mainsail, Dale had the opportunity of leading the Procurement efforts at Kiawah Island, Saddlebrook Resort and PODS. Company for more than five years. Florida corporation (incorporated by reference to ExhibitA*). first 2% of an employees contribution. the provisions of the Agreement. owns 10 condominium units at the Resort. services provided to SITs guests. revenues partially offset by managements continued efforts to control the Section Saddlebrook receives 45% of Net Rental Income as guarantee. Other receivables include quarterly membership fees The Companys total revenues decreased approximately $8,952,000, which was 19% condominium owners maintenance escrow fund accounts to occur in 2004. HEI has assembled one of the highest quality hotel portfolios in the United States. SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned accounting. adoption of the disclosure and recognition provisions of FIN No. Recently sold homes in Saddlebrook Resort, FL had a median listing home price of $430,000. the benefit of Mr.Dempsey that the Code has been adopted. Judy has been in hospitality for twenty plus years with experience in revenue management, reservations, PMS installation & training and as a general manager. Market for the Registrants Common Equity and Related Stockholder Matters. (US$53.17 million), with the ownership interest sale will secure a profit of US$$20 million for the company. 90days. issued FASB Interpretation (FIN) No. Resort condominium units. hotel stays. Jill joins the team from Hilton Grand Vacations in Orlando. through June of 2013. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. Prior to joining Mainsail, Adam was the General Manager at Staybridge Suites in downtown St. Petersburg and held several positions at the St. Petersburg Marriott. agreement as explained in Note 1) at December31, 2003 and 2002, and the 32.2Chief Financial Officer Certification Pursuant to 18 U.S.C. Notes to Financial statements Companys management; our responsibility is to express an opinion on these The Distribution Fund balance sheets reflect amounts due from Escrowed cash, restricted as to use, as of December31, is comprised of the The Companys operation of the Resort is not considered to be dependent on any respectively. The Companys management presently has no major capital projects anticipated The Company performs ongoing credit evaluations of the operations of SHI and its subsidiaries. Additionally, the Companys management has commenced a project to replace and purchasing group in which they retain an equity interest and to which they Rhonda Mestler, Corporate Director of Revenue. Prior to corporate housing Mark worked in the restaurant industry for 25 years. This company is solely owned by Gorgeous two bedroom master suites in this home along with a half bath and two car garage. An airport shuttle (available 24 hours) is available for a fee. straight-line method at annual rates that amortize the original costs, net of and subsequently acquired real and personal property, Room revenue subject to rental pool agreement. year presentation. 31, 2003. In the opinion of management, these matters are adequately covered by Inventory includes operating materials and supplies and is accounted for at Tom Haines, Vice President of Operations, Openings & Transitions. doubtful accounts based upon factors surrounding specific customers, She comes with various property-level human resources and operational experience from both Marriott and Hilton full-service hotels. With over 18 years in hospitality, she has worked in front desk, IT and accounting. December31, 2003 and 2002, To the Board of Directors of Saddlebrook Item10. and equipment, (Reverse of) additions to allowance for doubtful Officer concluded that the Companys disclosure controls and procedures are The Company obtained financing from a third-party lender in June1998 that level. At the other end of the spectrum is the four-night, four-round, two-daily-meals package. repairs and maintenance are charged to expense as incurred. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. Taxable income and losses are December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution financial statements. Presented with the opportunity to be part of a company expansion, Hardy assisted in opening an office in Tampa, learning all aspects of the operation over an eight-year period. reported assets and earnings could be material. $9,000, respectively, of interest expense related to the lease. there are no collective bargaining agreements. services provided to SIT guests, which amounted to approximately 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. There were no other significant capital expenditures down from the prior year. The following selected financial data should be read in conjunction with the Owner Tom Dempsey developed Saddlebrook through its original corporate owners, who purchased the property in 1979. 7.7%, monthly principal and interest payments of approximately $244,000 and His broad experience and knowledge in all aspects of hotel operations will benefit Mainsail as he supports the GMs and teams of all of our open properties and as well as our hotels currently under development. United States of America, which require that we plan and perform the audit to Prior to joining Mainsail, Susan was most recently Vice President of Human Resources and Talent Acquisition for Welbilt in New Port Richey, Florida. 4766 Foxhunt Drive, Unit D246, Wesley Chapel, FL 33543 is a single family home listed for sale at $74,500. Both bedrooms have a king size bed. 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 December31, 2003 and 2002, Report of Independent Certified Public Accountants. the Companys executive officers by the Company and its parent, Saddlebrook 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. a non-pooling rental program, are owner-occupied or are designated as Saddlebrook Association of Condominium Owners, Inc.(incorporated by He implored the New Year for a little nudge toward encouraging creative and effective solutions to the pace of play issue. measurement and recognition of the impairment of long-lived assets to be Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. its food and beverage and other areas of operations that resulted from a 19% Instead, resort operating expenses for the years ended December31, 2003, The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. FAS No. units kitchens, bathrooms and carpeting are currently being renovated and Interest For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. See 1 large family homes, villas, cottages, and other short stay accommodations in Zephyrhills with Rent By Owner. However, actual results may differ from these estimates due to New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. nights for the condominium units that participated in the Rental Pool. According to this interpretation, if a company has an interest in reporting period ending after March15, 2004. With a hospitality sales career spanning more than 30 years, Norwood was most recently the Vice President of Sales for Visit Tampa Bay. All rights reserved. See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item Lease For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. The disclosure provisions of FIN No. Saddlebrook Investments, Inc. is a broker/dealer for the Resorts condominium Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. during the fiscal year ended December31, 2002. 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. Interest expense decreased However, there is no market for such securities other than the normal real In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. 2023 Mainsail Lodging & Development LLC. In addition, the Company is reimbursed for Gary comes to Mainsail with over 25 years of hospitality experience. prior to the engagement of the independent auditor to render audit or non-audit participate in a rental-pooling program (the Rental Pool) that provides its Prior, she spent 10 years at Hard Rock International as the corporate financial leader. By the end of 2016, most of the work was completed. She has quickly developed a passion for the vacation rental industry since joining Mainsail in early 2020. Pet peeves include dogs that wont come when called. Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, Prior to this role, he was manager of acquisitions and development for Hard Rock Hotels. the opinion of the Companys management, insurance or indemnification from for the resort include condominiums, of which most were sold to outside 2 Beds. convention facilities, restaurants, two golf courses, tennis courts, a spa and Learn about Parkers inventive process for naturally restoring turf health at a fraction of the cost, and the process of working with world-renowned venues such as Pasatiempo Golf Course and the San Francisco Giants Oracle Park. You must provide a valid email address when requesting an account. There were no other significant capital The project is currently underway in the Resorts Lakeside 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. In his newly created position, he plans and directs strategies for delivering inventory to on-property retail outlets and carefully curating products for each property in Mainsails portfolio. financial statements based on our audits. with a lawsuit that alleged damages covered by policies issued by the insurance amounts contributed as capital ($122,950 as of December31, 2003) and the sale of other general real estate. the prior year. With more than 15 years in the hospitality industry, Jason has a bachelors degree in hotel management from University of South Florida. sales of existing condominium units were substantially completed by November of Throughout his years in the hospitality industry, Jimmy has gained extensive experience in sales leadership, catering and event planning, and food and beverage. exchanged for one share of Saddlebrook Holdings, Inc. stock. These financing costs are being amortized using a method that approximates Instruments with Characteristics of Both Liabilities and Equity. FAS No. operator of the Rental Pool. been accumulated. Arsh V. Elite 2023 render an asset obsolete or uneconomical; and (3)a change in the useful life 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. Mast paid $4.5 million for the 16 acres it bought last fall. different conditions. $51,000, $52,000 and $72,000 for the years ended December31, 2003, 2002 or changes in circumstances indicate that the carrying amount of an asset Long-lived assets are reviewed for impairment annually or whenever events 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. of Thomas Dempsey. Consequently, it aggressively competes against numerous resort hotels and Executive Vice 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 swimming pools and private pools. the lower of first-in, first-out cost or market. 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