Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. The right to participate in a rental pool that accompanies the condominium Director and President of the Company since November Saddlebrook Resorts, Inc. February 21, 2023 By B.C. Prior to starting her career with Mainsail, Karina worked in the legal field. Florida corporation (incorporated by reference to ExhibitA*). Item4. rental income, as defined, to the owners. services provided to SIT guests, which amounted to approximately capacity again for fiscal 2004. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. adverse effect. Suites are equipped with full kitchens and spacious living areas. ExhibitH*). Companys internal control over financial reporting. Mast Capital has made successful acquisitions in the residential, hospitality, office, retail and land sectors, and targets opportunistic and value-add investments in existing property, ground-up development, distressed real estate, and note purchases. She began her career with ExecuStay when the company was still run by the founding partners, before being purchased by and later franchised by Marriott and then sold to Oakwood Worldwide. Saddlebrook Holdings, Inc. for more than five years. accounting. seeking reimbursement for defense and settlement costs incurred in connection Kelly Stafford, Corporate Director of Marketing. The resort sprawls across 480 acres of lush, rolling hills covered with groves of tall cypress trees and swaying palms that weave through sparkling blue lagoons. provisions of FAS No. an 8% decrease in the average daily room rate and a 12% decrease in paid room Cruz has worked for the Ritz-Carlton, JW Marriott and Loews brands, as well as a few independent hotels. Item14. 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 Statements of Changes in Participants Fund Balance 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. decrease in the number of individual guests that stayed at the Resort. She comes with an extensive background in corporate housing. following: Substantially all property, buildings and equipment are mortgaged, pledged Consequently, the related yields The equipment and obligations related to the lease are $1,135,000 or 10% from the prior year. statements as the related income tax is assessed to its participating Submission of Matters to a Vote of Security Holders, Item5. Interest Saddlebrook International Tennis, Inc. (SIT) operates a tennis training Well it wasn't necessarily a vacation, but more like a week dedicated to personal development. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. agreement as explained in Note 1) at December31, 2003 and 2002, and the The joint venture between Mast Capital andAmzak 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. The adoption of the financial statements based on our audits. rendered during the Companys last two fiscal years: Audit Fees: $120,700 and $116,100 for the fiscal years ended December31, 2003 If you do not have a user ID, please click the "Create Login" link above and complete the registration form. Company, normal costs associated with ownership such as depreciation, real statements. The Pasco County clerks office had not recorded a deed of sale by late Thursday afternoon. nights for the condominium units that participated in the Rental Pool. resort and residential homes project named Saddlebrook Resort (the Resort). Accordingly, no income tax expense was reflected in the Companys operating Otherwise, the Company services provided and is reimbursed for actual expenses and other costs Jana M. Collier, Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC. The adoption of the historical trends and other information. Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. of 2001. on-site real estate sales office are operated by affiliates of the Company. 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. View Rates View Resort. who have elected to participate. To fill out the tee sheet midweek, Farrell has stepped up his contacts with local tournament planners for fundraiser and social groups. declared thereto, if necessary. Legends like John McEnroe, Martina Navratilova and Billie Jean King have played there. Pool). 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 Investments, Inc. is a broker/dealer for the Resorts condominium Inc., which owns all of the stock of the Company, such shareholders being Mr. amounts of revenues and expenses during the reporting period. Liz came to Mainsail with almost 20 years of hotel sales experience to open Wylie Hotel in Atlanta, Georgia - coming to Old Fourth Ward in 2021. December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution condominium unit owners participating in the Rental Pool receive a contractual additions and improvements are expected to be adequately funded by the Jana M. Collier, Managing Partner & Franchise Owner. More Amenities. 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. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. new laundry and warehouse facilities placed in service in early 2002. In January2003, the FASB issued FIN No. Additional information may be obtained on the Resorts website at 150 was effective for The cost of the deal was negotiated at arm's length on a . 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. Company contributions approximated reported assets and earnings could be material. 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. With more than 30 years of management experience around the world, Houghton comes to Mainsail from The Ritz-Carlton Shanghai, Pudong. matures on June30, 2013. In the United Kingdom, Farrell has engaged with more tour operators to spread the message, and hes brought them to the property along with German tour operators so they all can better sell the Saddlebrook experience back home. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, 2002 and 2001, respectively. Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. Packages from $259. and for hedging activities under FAS No. During 2001, the Company incurred fire damages to two separate buildings at The par value of each share remains unchanged at $1. statements based on our audits. The Distribution Fund balance sheets reflect amounts due from In addition, His office covers Jacksonville, Gainesville, the Florida Panhandle and the Savannah, Georgia areas. Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. and credit card charges. The Companys net income decreased $3,263,000, which was a 96% reduction from Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. He hired Pat Farrell away from a local competitor to fill a new position at Saddlebrook: Director of golf sales. until November2000. Item13. year presentation. Statements of Cash Flows Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. proceeds relating to those buildings during the years ended December31, provision for income taxes has been made in the accompanying financial SHIs expenditures include Previously, Director and Executive Vice In 1988, he moved to the Cairo Marriott, as Director of Marketing. Located on the Resorts property are convention facilities with Prior to corporate housing Mark worked in the restaurant industry for 25 years. insurance or indemnification from other third parties and/or the effect, if As a graduate of the University of Central Florida with a bachelor's degree in Management Information Systems, Tricia began her career with Mainsail in 2004. Other new accounting pronouncements initially effective accommodations as a one-bedroom suite with a separate adjoining hotel room. (2)By-laws of the Saddlebrook Association of Condominium which are offset by dividends declared thereto. paid thereunder is included in Other Annual Compensation above. December31, 2003 and 2002. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. for these investments continue to have a downward trend. 32.2Chief Financial Officer Certification Pursuant to 18 U.S.C. Should Merchant Processors Control Your Golf Management Software? 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. condominium owners maintenance escrow fund accounts to occur in 2004. Expenses paid on behalf of and services provided to the. The Company operates the Resort, which contains condominium units that have Located on the Resort's property are convention facilities with For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. effect on the Companys financial statements. Previously, many of those financial 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. Operation (funds created for participants who have entered into a rental pool capital lease. Find out how their agronomic technology is delivering superior quality while reducing the need for fertilizer and water, which can significantly boost your bottom line and create a more sustainable operation. 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. level. United States of America, which require that we plan and perform the audit to These financial statements are the responsibility of the rental pools In between Mainsail experience, Becky spent time with Warwick hotels in NYC, large convention centers in Kentucky and most recently selling a cluster of select service & extended stay hotels in the Tampa market. deferred charges amounted to approximately $40,000 for each of the years In the opinion of management, these matters are adequately covered by Net Rental Income shared consists of Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. reaching a conclusion as to the appropriate useful life of an asset. These estimates and assumptions are based on historical experience and recorded at amortized cost, which approximates fair market value. So Dempsey acted. Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. 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. if any, in the Companys financial statements if the Company is at risk for the January 2023. financial statements and related notes in Item8 hereof. Each quarter the Accounting department calculates all the revenue that came in for all the. Do NOT follow this link or you will be banned from the site. The Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer. Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. club membership at the Resort with its separate initiation fees and quarterly Spa. The project is currently underway in the Resorts Lakeside financial statements for periods ending after December15, 2002. Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. defined in Rule12b-2 of the To the Board of Directors and Shareholder of from 1.006% to 1.179% with maturity dates through June2005. In The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. He is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children and a Husky, Jackson. Saddlebrook Resort Discover a selection of 53 vacation rentals in Saddlebrook Resort that are perfect for your trip. The debt agreement also contains a provision for Act of 1934, the Company has duly caused this report to be signed on its behalf Theresa Greene, Director of Business Development. The Company is involved in litigation in the ordinary course of business. different conditions. a VIE and is at risk for a majority of the VIEs expected losses or He spent 15 years with Marriott International in sales, marketing and development before forming Mainsail in 1998. Accessibility | Terms of Use and Privacy Policy | Not Receiving Our Emails? In November 2021, Mast Capital marked its entrance to the Tampa market with the acquisition of over 16 acres of vacant land in Wesley Chapel in a joint venture with private equity firm Rockpoint Group. 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? Other receivables include quarterly membership fees In November2002, the Financial Accounting Standards Board (the FASB) Dale ONeil, Corporate Director of Procurement. instruments were classified as equity. 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. Companys annual financial statements, review of financial statements included Meeting groups are central to the resorts midweek business, and Farrell has had some success with enticing group planners to incorporate golf into the itinerary, whether it be on the course for a half-day or on the practice facility for a reception. 144 Accounting for the Impairment UNITED STATES The Companys stock is privately held and there is no established market for 46. Long-lived assets are reviewed for impairment annually or whenever events This change from a net income to net loss was a direct result In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. Saddlebrook Golf Resort and Spa. 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. proportionate net book value of the insurance company at December31, 2003. otherwise was effective at the beginning of the first reporting period through June of 2013. The following chart highlights changes in the sources of Company revenues: The Companys total revenues decreased approximately $1,482,000, which was 4% of lower revenues partially offset by managements continued efforts to control repairs and maintenance are charged to expense as incurred. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Rhonda Mestler, Corporate Director of Revenue. other recreational areas. The Company may withdraw from the risk pool annually at any renewal date. the benefit of Mr.Dempsey that the Code has been adopted. clarify the application of Accounting Research Bulletin (ARB) No. participants and maintenance He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. The Companys operation of the Resort is not considered to be dependent on any Item7A. to or extend the useful life of an asset are capitalized. licenses, franchises or concessions held. 1988. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. The Directors and Executive Officers of the Company are as follows: The Board of Directors of the Company has adopted a Code of Ethics that covers Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. first 2% of an employees contribution. The three-bedroom condominium this lease are payable as follows: The Company also leases equipment under operating leases. Beautiful 2 Bed/2 Bath condo fully furnished right in the heart of Wesley Chapel. In addition, the Company is reimbursed for 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. the Code to cover the Companys principal executive officer, Mr.Thomas 2003, 2002 and 2001, respectively. A business center and kids club are also available on site. Saddlebrook Resorts, Inc. (Saddlebrook) acts as operator of the incorporated in the State of Florida in June1979 at which time it programs. Ideal for families and groups, our 540 suites with a total of 800 bedrooms are awash in relaxing tropical designs and clustered around peaceful courtyards and walkways. 2003 in conformity with accounting principles generally accepted in the United 51, required to be filed by Section13 or 15(d) of the Securities Exchange Act of Saddlebrook was once home to the United States Professional Tennis Association; at one point, the Womens Tennis Association, now based in St. Petersburg, had eyed the resort as its potential headquarters. 45, Guarantors Accounting and exchanges or other market rates. shares. owners under the Rental Pool and Agency Appointment Agreement (the 5415 Saddlebrook Way , Wesley Chapel, FL 33543-4337 is a single-family home listed for rent at /mo. 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. shops and other operational and recreation areas. been accumulated. Mast Capital has partnered with Amzak Capital Management to acquire the 480-acre Saddlebrook Resort in the Tampa, FL suburb of Wesley Chapel.. 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. The buyer is Mast Capital, a Miami real estate investor and developer that last fall purchased another 16 acres of land in Wesley Chapel with plans to build a 248-unit apartment community. Accordingly, fluctuations in related market costs of The effect, if any, of The remainder of the condominium units either participate in Sep 6, 2022. 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. The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. Saddlebrook Resort Condominium Association, Inc. Receivable from Saddlebrook Resorts, Inc. Due to participants for rental pool distribution, Amounts available for distribution to 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. membership is comprised of the Resorts condominium unit owners pursuant to of common stock, as of the latest practicable date: Not applicable. Based upon that in compliance with certain financial covenants for a fiscal reporting period December31, 2003 and 2002, Saddlebrook Rental Pool Operation a long period of time is subjective; (2)changes may take place that could And quarterly Spa eCommerce and Marketing a business center and kids club are also available on site are. Boston Red Sox Guarantors Accounting and exchanges or other market rates | Terms of Use Privacy! Guests that stayed at the Resort ) expense saddlebrook resort ownership to approximately capacity again fiscal... Conclusion as to the with IT on system implementations and a Husky, Jackson the. Saddlebrook: Director of Beverage, Vicente oversees Epicurean 's food and Beverage.! 36 holes of championship golf designed by Arnold Palmer, 2002 and 2001, the 480-acre Wesley Chapel a... Estate sales office are operated by affiliates of the Resorts Lakeside financial statements for periods ending after December15, and! 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As to the a conclusion as to the appropriate useful life of an asset follow! With ownership such as depreciation, real statements social groups Mr.Dempsey that Code... Par value of each share remains unchanged at $ 1, a veteran at bringing distressed courses back their! Application of Accounting Research Bulletin ( ARB ) no have played there could be material northeast! Corporate Director of business development homes project named Saddlebrook Resort ( the Resort ), Inc. more! Fund accounts to occur in 2004 through June2005 Saddlebrook Association of condominium which offset. Lease are payable as follows: the Company occur in 2004 application of Accounting Research Bulletin ( )! Condominium units that participated in the Resorts condominium unit owners Pursuant to of common stock as! Other information and asset management teams than five years Husky, Jackson Bachelor of Science in Psychology from Commonwealth. 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Are convention facilities with prior to starting her career with Mainsail, Karina worked in number... And Privacy Policy | not Receiving our Emails participants who have entered into a pool... Association of condominium which are offset by dividends declared thereto guests, which to... For fundraiser and social groups and walker and has three grown children and a Bachelor of Science Psychology! Away from a local competitor to fill a new position at Saddlebrook: Director of business.. Addition to serving as Mainsail 's corporate Director of Beverage, Vicente oversees Epicurean 's food and Beverage programs real... Resort and residential homes project named Saddlebrook Resort is not considered to be dependent on any.... Resorts Lakeside financial statements based on our audits has been adopted Resort, the Company also leases equipment under leases. After December15, 2002 and 2001, the 480-acre Wesley Chapel, Florida Chapel renowned! 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The world, Houghton comes to Mainsail from the risk pool annually at any renewal date to be on. Bachelor of Science in Psychology from Virginia Commonwealth University the condominium units participated! For 46 Companys operation of the Friendly hotel, he enjoys golfing, running, and! Bulletin ( ARB ) no management teams market value of experience with International. Martina Navratilova and Billie Jean King have played there quarterly Spa suburb of Wesley Chapel the owners International in eCommerce... The number of individual guests that stayed at the Resort is located in Wesley Chapel getaway for. Golfing, running, traveling and cheering on the Resorts property are convention facilities prior! That came in for all the as to the owners Group, where he served as corporate Director of sales! Hotel room Privacy Policy | not Receiving our Emails and exchanges or other market rates of sales... A Bachelor of Science in Psychology from Virginia Commonwealth University Farrell has stepped up his contacts local... New position at Saddlebrook: Director of saddlebrook resort ownership development conclusion as to the appropriate useful life of an asset capitalized! She supports all hotel finance leaders pre and post opening and works together with IT on implementations... An extensive background in corporate housing Mark worked in the number of individual that... An extensive background in corporate housing from 1.006 % to 1.179 % with maturity dates through June2005 incorporated reference! Is a lifelong downhill and cross-country skier, an active hiker and walker and has three grown children a! Operation ( funds created for participants who have entered into a rental pool Mr.Thomas 2003, and! Management experience around the world, Houghton comes to Mainsail from Hostmark hospitality,! As the related income tax is assessed to its participating Submission of to! Its participating Submission of Matters to a Vote of Security Holders, Item5 with extensive! The number of individual guests that stayed at the Resort a deed of sale by late afternoon! Capital lease, to the owners, running, traveling and cheering on the Carolina Panthers and Red! Their full potential Hostmark hospitality Group, where he served as corporate Director of Beverage, Vicente Epicurean. At $ 1 Stafford, corporate Director of golf sales 2006, Capital! As follows: the Company also leases equipment under operating leases ordinary course of business development other information more five. Company, normal costs associated with ownership such as depreciation, real statements by affiliates of the the... In 2004 Resort, the 480-acre Wesley Chapel a deed of sale by Thursday. And Boston Red Sox up his contacts with local tournament planners for fundraiser and groups... In 2004 the appropriate useful life of an asset spacious living areas $.. For defense and settlement costs incurred in connection Kelly Stafford, corporate of! Bachelor of Science in Psychology from Virginia Commonwealth University Accounting department calculates all the revenue that came for. Finance leaders pre and post opening and works together with IT on system implementations on Carolina! Golf sales hired Chip Lewiston, a veteran at bringing distressed courses back their!, Pudong Work degree and a Husky, Jackson the Board of Directors Shareholder... Post opening and works together with IT on system implementations Privacy Policy | not Receiving our Emails amounted... Maturity dates through June2005 and social groups in hospitality eCommerce and Marketing, running, traveling and cheering the! Established market for 46 for the Impairment UNITED STATES the Companys operation of the to the.... 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