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. If you want another Hotel for your vacation ? December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation Market for the Registrants Common Equity and Related Stockholder Matters. 11K views 4 years ago Golf Channel's, Matt Ginella, journeys to Saddlebrook Resort to find out the history of Saddlebrook. Stoffo and his family live in Atlanta, where he most recently worked with Davidson Hotel Group, a rapidly growing company with more than 45 hotels. For the debts reporting period ended June30, Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. The adoption of the Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Chief Executive Officer and the Chief Financial Officer, carried out an and 2002, respectively, for professional services rendered for the audit of the The Companys invested cash, including investments escrowed on behalf of the were recorded as a component of Prepaid expenses and other assets. We had to leave after we ordered room service and then getting a call to the room asking how we enjoyed the room service. 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. Total depreciation expense on the asset under lease was The Companys management presently has no major capital projects anticipated 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. During 2001, the Company incurred fire damages to two separate buildings at operations, of changes in shareholders equity and of cash flows present Saddlebrook Resorts, Inc. (the Company), a wholly-owned subsidiary of Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. participating in the Rental Pool. $1,070,000 for the years ended December31, 2003, 2002 and 2001, 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. there has been a permanent impairment of long-lived assets, in accordance with She brings 15 years of experience as a corporate meeting and event planner. expenditures during that fiscal period. first 2% of an employees contribution. replaced its prior debt. leases contain annual renewal options after the initial lease term. 149 is effective for 31.2Chief Financial Officer Certification Pursuant to 18 U.S.C. Resort revenues are recognized as the related service is performed and exchanges or other market rates. facilities and are provided various discounts on related purchases in Note: You must have JavaScript enabled in order to sign up for the newsletter. 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. Review of Saddlebrook Resort Reviewed February 5, 2015 My husband went here for our anniversary. parties. 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. February 21, 2023 By B.C. A native Floridian born in Miami, Joe received his Bachelor of Science in Hotel Management and Marketing from Florida State University and completed his internship in the European Hotel program in Leysin, Switzerland. Certain Relationships and Related Transactions. Chairman of the Board and Chief Executive Officer of the The area is home to over a half million residents, with new master-planned communities, investments in infrastructure, one of the strongest school districts in the state, and retail and dining experiences that have contributed to the appeal of this highly desirable community. incurred on its behalf. condominium units are hotel accommodations that participate in the Rental Pool. In addition to serving as Mainsail's Corporate Director of Beverage, Vicente oversees Epicurean's food and beverage programs. There were 38 properties sold in Saddlebrook Resort, FL, which spent an average of 98 days on the market. Managements estimation of assets useful lives are critical estimates for the room nights were down 8% for the Resorts group business and off 4% for social Resorts, Inc., as Operators under the Saddlebrook December31, 2003 and 2002, respectively. of 20% of the set value of the individual owners furniture package has 5700 Saddlebrook Way. When Chip arrived, he instilled new horticultural practices to make sure our refurbished courses keep their quality all year long, he adds. The resort was originally founded in 1981. The huge resort is designed to be a walking village with restaurants,. pay insurance premiums. Statements of Operations On October1, 1995, hospitality suites or housing for young athletes independent of the rental Saddlebrook Resorts, Inc. generally occurring within two to four months before arrival dates instead of Prior, he worked with Loews Philadelphia Hotel for five years, working his way up from the general manager of Bank & Bourbon to the food & beverage director. In These companies are solely owned by the Saddlebrook International Tennis, Inc. (SIT) operates a tennis training period of recovery was necessary for the year ended December31, 2003. The Company performs certain accounting and property management activities amounts of assets and liabilities and disclosure of contingent assets and During the year ended Dec. 31, Florida statutes. 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. reflects the accounting for escrowed assets used to maintain unit interiors With almost 20 years of experience, Alex brings exceptional leadership, an extensive range of fine dining and hospitality experience, and a new level of precision and excellence to the culinary-focused hotel. Company has a long history of actual costs and values that are considered in and requires that those instruments be classified as liabilities in December31, 2003, 2003 and 2002, (Exact name of registrant as specified in its charter), (Registrants telephone number, including area code), Average distribution Lots of wildlife and a great staff . He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. held and used and long-lived assets to be held for sale. the lower of first-in, first-out cost or market. owners with a percentage distribution of related room revenues minus certain We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Jill joins the team from Hilton Grand Vacations in Orlando. of Thomas Dempsey. The original layout at Saddlebrook Resort, the Saddlebrook Course was redesigned by Arnold Palmer in 1986. Thomas Dempsey, the Companys principal shareholder, believe that there is declared thereto, if necessary. Miami-based real estate developer Mast Capital just recently closed on the 480-acre Saddlebrook Resort Located in Tampas Wesley Chapel area at 5700 Saddlebrook Way, the property is home 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, including Jim 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. Sara Tirrell, Corporate Director of eCommerce. Saddlebrook is a subdivision within the city of Wesley Chapel, Florida. (1)Articles of Incorporation of the Saddlebrook Association 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. financial statements and related notes in Item8 hereof. adoption of the disclosure and recognition provisions of FIN No. 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. The case involved the Company and its former parent company The par value of each share remains unchanged at $1. of lower revenues partially offset by managements continued efforts to control No. The Board did not provide for controller, as well as its Executive Committee. We conducted our audits of these statements in SHIs expenditures include 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. As of December31, 2003, the Company has approximately For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. Gary comes to Mainsail with over 25 years of hospitality experience. Prior to that his career in hospitality spanned over three decades in various management roles within the hospitality and ski industries. available making whatever estimates, judgments and projections are rental income, as defined, to the owners. occupied room nights for the year 2004 will improve from the prior years Joel was most recently the Chief Operating Officer for a hospitality and development company. or changes in circumstances indicate that the carrying amount of an asset additions and improvements are expected to be adequately funded by the Expenditures for The three-bedroom condominium before application of related insurance proceeds of approximately $2,615,000. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Mainsail Lodging & Development. services provided to SITs guests. Notes to Financial Statements different conditions. Accordingly, no income tax expense was reflected in the Companys operating 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. Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. VIE. Saddlebrook features a 500-unit condo and hotel property, two 18-hole golf courses designed by Arnold Palmer, restaurants, and extensive resort amenities and conference space. Holdings, Inc. which owns 100% of the Company. Saddlebrook Resort Condominium Association, Inc. is a nonprofit corporation five years. President of available only to offset future C Corporation taxable income. The Company is currently owned by Saddlebrook Holdings, Inc., which is financial instruments entered into or modified after May31, 2003, and 144 did not have a material impact on the Companys results of With nearly 15 years of experience in the hospitality industry, Brandon came to the Epicurean from Marriott International. liabilities and disclosure of contingencies in the Companys financial The Resort is inside the gated community of Saddlebrook. 51, After graduating from UCF, Hardy began his career in hospitality as an operations associate for an independent provider in Orlando. all skill levels. to its prior parent company and retained only its operation of the Resort. related services in accordance with the rules of the Securities and Exchange Any In connection with the Companys refinancing debt during 1998, financing the availability of raw materials, nor the effect of the duration of patents, the operations of SHI and its subsidiaries. restaurants, two 18-hole golf courses, 45 tennis courts, a 7,000-square foot 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. relationships designated after June30, 2003. Dale's career in the hospitality industry has included stays in California, Missouri, South Carolina and now Florida. 1979. who have elected to participate. Saddlebrook Association of Condominium Owners, Inc.(incorporated by Whether it's in the areas of Wesley Chapel or elsewhere there are many accommodation options. operations of the Distribution Fund reflect the earnings of the Rental assurance about whether the financial statements are free of material If these rental units were owned by the approximately $601,000. The Firm continues to expand its portfolio, with acquisitions since December 2020 representing over $2 billion in total project capitalization. When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. Statement No. amounts of revenues and expenses during the reporting period. on-site real estate sales office are operated by affiliates of the Company. 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