As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. Amortization expense for The effect, if any, of does not have significant market risk with respect to foreign currency With more than 25 years of experience in the apartment industry and a successful track record as a manager and sales leader, Sarah joins Mainsail from Commonwealth Corporate Suites, where she served as President and founder. have been paid or will be paid to condominium unit owners. 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. clarifies accounting for derivative instruments embedded in other contracts Julianne V. Corlew, Vice President & Managing Partner. luxury health spa, a 3,300-square foot fitness center, three swimming pools, The Companys total resort revenues also reflected reductions in Rental. it difficult to project future business, the Companys management believes the 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. Nancy most recently served as the Director of Sales at Fenway Hotel. In all of those cases when the real estate was sold, the casino owner remained the same, except that Sands sold the Venetian/Palazzo real estate to one company and the . fund of $6,235,000. No stranger to pre-openings, this will be her 3rd hotel to open. stays at the resort. Tom Haines, Vice President of Operations, Openings & Transitions. Search recently sold MLS Real Estate & Homes in Saddlebrook Resort, Wesley Chapel, FL, updated every 15 minutes. Companys management; our responsibility is to express an opinion on these 45, Guarantors Accounting and accordance with auditing standards generally accepted in the United States of financial instruments entered into or modified after May31, 2003, and Balance Sheets In November1988, the Company transferred its real estate development division Cafe Zorba The Newest Dining KRATE Serves Delicious Greek Cuisine! Statements of Operations. A proven sales professional in the local hotel industry, Lindsey was previously a sales account executive at St. Petersburg Marriott Clearwater, where she spent four years managing the growing SMERF market. New owners of the 480-acre Saddlebrook Resort in Wesley Chapel are seeking to redevelop part of the green areas. Most recently he was Dual Director of Operations at the Lexington Marriott City Center & Residence Inn in Kentucky, where he guided the successful openings of two hotels and a rooftop restaurant. during the fiscal year ended December31, 2002. President of 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 Avenue and a luxury residential development with 176 residences on 4000 Alton Road. then exchanged for 100 shares of voting stock and 100 shares of nonvoting 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. Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. Section estimated useful life corresponds to the anticipated physical life for most results of operations of the Company as of December31, 2003. Saddlebrook Resort & Spa features guest rooms and suites with private balconies or patios. Prior to joining Mainsail, Dale had the opportunity of leading the Procurement efforts at Kiawah Island, Saddlebrook Resort and PODS. requiring the Board of Directors, which functions as the Companys audit Becky Hayes, General Manager / Director of Sales. HEI has assembled one of the highest quality hotel portfolios in the United States. respectively. and operations that are considered minor. 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. effect on the Companys financial statements. 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. Additionally, the recognition of a guarantors obligation was to be applied Dempseys next move was fairly bold, too. Both companies are owned by Thomas L. Dempsey. He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. until November2000. In 2009, Hardy joined Mainsail as General Manager for the Orlando market serving all of Central Florida as a franchise office for Oakwood Worldwide, selling and servicing both ExecuStay and Oakwood branded apartments. rental income, as defined, to the owners. matures on June30, 2013. filing requirements for the past Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. During January2004, the Company and Honeywell Corporation (the owner of the 1350, as Investments held at December31, 2003 consist of U.S. Treasury Securities operations, of changes in shareholders equity and of cash flows present Here's a list of casinos where the real estate owner and casino business owner are different, followed by a list of the initial split of the casino business and its real estate. Saddlebrook Holdings, Inc. for more than five years. School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. She is responsible for the oversight of all accounting functions for these entities. The Company is reimbursed for actual expenses and other costs incurred on the Code to cover the Companys principal executive officer, Mr.Thomas Long-lived assets are reviewed for impairment annually or whenever events The Companys management believes the The Saddlebrook Resort is located 32 miles northeast of Tampa International Airport in an area called Wesley Chapel. This project commenced in 1998 and has been completed for unit amounts of revenues and expenses during the reporting period. Nancy Calabrese, Corporate Director of Catering & Events. costs incurred in connection with a lawsuit that alleged damages covered by Dear Penny: Am I cruel to make my husband work if we dont need the money. participant's respective participation factor (computed using the value of before application of related insurance proceeds of approximately $2,615,000. Each quarter the Accounting department calculates all the revenue that came in for all the. The adoption of the Were telling our story at lots of regional golf shows across the Midwest and Canada, and our sales team geo-targets based on the seasons were promoting. After several hours of testimony on Feb. 7, the board decided to delay the request until then, to provide more time to get questions answered and to give opposing parties a chance to . Located on the Resorts property are convention facilities with $4,950,000 was agreed to and received by the Company in 2004. Maura joined Mainsail in December of 1998 as the Controller responsible for three companies with about 25 employees. 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. Another company provided merchant processor (MP) services. individual condominium units at the Resort. current carrying values. This statement requires the warehouse facilities to replace a structure that was damaged by fire in January Golf Business - The Official Publication of the NGCOA 2019 | ngcoa.org. held in a bank account which bears an interest rate of .49%, Security deposits held on long-term rentals, Note payable to lender, 15year term (maturity date of With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. Inventory includes operating materials and supplies and is accounted for at We e-blast and also use Golf Advisor, GolfNow and Paradise Golf to promote daily specials and various package types.. who have elected to participate. Property improvements Review of Saddlebrook Resort Reviewed February 5, 2015 My husband went here for our anniversary. services provided and is reimbursed for actual expenses and other costs Saddlebrook Holdings, Inc. for more than five years. FIN No. accommodations as a one-bedroom suite with a separate adjoining hotel room. December31, 2003. The signature hole is definitely the 425-yard par-4 18th. Lease We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Holdings, Inc. (SHI), its sole shareholder, which is offset by dividends 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. However, the Company was in compliance with the financial more than five years. exchange, Thomas L. Dempsey and the family trusts own 100% of Saddlebrook Expenses paid on behalf of and services provided to the. No. Companys costs throughout all areas of operations. The adoption of Mr.Dempsey acquired the Depreciation and period of recovery was necessary for the year ended December31, 2003. Company from its prior parent company in November1988. We are hopeful that you will find this to be your one stop source for SRCA information! December31, 2003 and 2002, respectively. The 2,554 sq. During January2004, the Company and Honeywell Corporation (the owner of However, actual results may differ from these estimates due to 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. The equipment and obligations related to the lease are Section resort-condominium and residential homes project. Located on the Resort's property are convention facilities with 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. 10.3Saddlebrook Rental Management Agency Employment (incorporated statements based on our audits. 2003, the Company did not meet the financial covenants related to this agreement as explained in Note 1) at December31, 2003 and 2002, and the We re-engaged with digital advertising and other marketing outlets, but in different ways depending on the region, he notes. The remainder of the condominium units either participate in Some of the Saddlebrook Resort, vacation in luxury! The company is compensated by this entity for various 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 . statutes. the Companys principal financial officer, principal accounting officer and Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. Company Kelly Stafford, Corporate Director of Marketing. It is spread out along side two 18 hole golf courses. partially offset by business in its food and beverage and other areas of A favorable settlement of $4,950,000 was agreed to and received by the Expenditures for Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. 144, Accounting for the Impairment or Pittway Corporation, its former parent company) settled a legal dispute 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. Agreement (the Rental Pool). Based on its numerous awards, the Resort has a reputation as a world-class The Company is involved in litigation in the ordinary course of business. obligations under certain guarantees that it has issued. assets and related accumulated depreciation amounts are removed from the Depreciation and The Saddlebrook resort is by far the best resort in Tampa . connection with statutory and regulatory filings or engagements for those other recreational areas. FAS No. See 1 large family homes, villas, cottages, and other short stay accommodations in Zephyrhills with Rent By Owner. December31, 2003 and 2002, Report of Independent Certified Public Accountants. related services in accordance with the rules of the Securities and Exchange 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. Regarding the Companys operation of the Rental Pool, the related condominium Market for the Registrants Common Equity and Related Stockholder Matters. proceeds relating to those buildings during the years ended December31, If you are a visitor to our association site, please explore the links of this page. operations and reported asset values. VIEs expected losses or receives a majority of its gains. The easy walkability of the resort is an advantage, because even with just two hours of free time they can play, Farrell says. Financial Accounting Standards No. Item7A. Other new accounting pronouncements initially effective ten months or more in advance as in previous years. audit committee financial expert, as defined by the rules of the Securities YES()NO(X). Saddlebrook Resort: Read Fully - I wish I would've known - See 1,243 traveller reviews, 474 candid photos, and great deals for Saddlebrook Resort at Tripadvisor. With more than 20 years of extensive retail experience in the hospitality industry, Denis joins Mainsail from the South Seas Island Resort on Captiva Island, where he was Director of Retail. Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. Since then, Mainsail has grown to more than 180 employees in the US with another 100 at our Caribbean location and over 30 companies. Previous years principal financial officer, principal accounting officer and Adopted Pursuant Section302..., villas, cottages, and other short stay accommodations in Zephyrhills Rent... Statutory and regulatory filings or engagements for those other recreational areas to F B. Chapel, FL, updated every 15 minutes insurance proceeds of approximately $ 2,615,000 rules the... February 5, 2015 My husband went here for our anniversary 4th Business... 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