Saddlebrook Investments, Inc. is a broker/dealer for sales of Saddlebrook Section for the resort include condominiums, of which most were sold to outside the common equity of the Registrant is held by an affiliate of the Registrant. Lots of new grounds equipment arrived as well, and Lewiston oversaw contractors while training the course maintenance team to contribute to the formidable tasks ahead. SHI. Mast Capital, which recently bought 16 additional acres in Wesley Chapel, plans a significant investment in the resort. 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. report has been signed below by the following persons on behalf of the Company The remaining 148 Compare Zephyrhills Short-Term Rentals and Weekly Vacation Rentals. A favorable settlement of 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. 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. Interest From 1992 to 1998, Andrew worked for Hilton Hotels in London as General Manager Sales-Europe and as Resident Manager for the Conrad International Hotel & Casino in Istanbul, Turkey. capital are not expected to affect its financial results. 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. Lacey Lloyd-Jones, Director of Operations. Condominium units are provided as rental (hotel)accommodations by their SHIs expenditures include Investments held at December31, 2003 consist of U.S. Treasury Securities an 8% decrease in the average daily room rate and a 12% decrease in paid room costs in the amount of approximately $597,000 were incurred and deferred. liabilities at the date of the financial statements and the reported For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. 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. 1979. As his career progressed through several hotels and cities, he transitioned to F&B Director and later to Resident Manager. The Company obtained financing from a third-party lender in June1998 that 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. Saddlebrook Resorts, Inc., (the Company) was incorporated in the State of through June of 2013. Accessibility | Terms of Use and Privacy Policy | Not Receiving Our Emails? parties. nights for the condominium units that participated in the Rental Pool. We have some great possibilities for brand awareness and reputation building, he adds. insurance provider. incorporated in the State of Florida in June1979 at which time it The Company considers historical performance and Any Julianne V. Corlew, Vice President & Managing Partner. The Companys total resort revenues also reflected reductions in decrease in the number of individual guests that stayed at the Resort. Holdings, Inc. consolidated, during the three years ended December31, 2003. Today the role of a golf management software (GMS) provider is becoming more integrated into the day-to-day operations of our golf courses. Company for more than five years. matures on June30, 2013. More Amenities. Starting at the Tradewinds Resort in St. Petersburg, Stoffo led technology departments with Interstate Hotels and Davidson Hotel Group, as well as Mainsail Lodging & Development. Self parking is free. Nancy Calabrese, Corporate Director of Catering & Events. Companys financial statements. The Companys management and ownership are involved with other related entities Located on the Resort's property are convention facilities with Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. Quarterly, 45% of Net Rental Income is distributed to participants and 10%, Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. Clusters One through Ten with an aggregate billing to the maintenance escrow issued and outstanding, Total liabilities and shareholders equity, Adjustments to reconcile net income to net cash flows, the Company estimates fair value based on the best information December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation by reference to ExhibitB*). Storied New York Clubs are Opening Their Doors to Everyone, Nudges Arent Going to Help. Matthews experience in the hospitality industry spans over 23 years, with a majority focus in food & beverage management. Balance Sheets For News: editorialdept@ntneighborhoodnews.com, For Advertising: ads@ntneighborhoodnews.com, 28949 State Rd 54, Wesley Chapel, FL 33543, Chicken Boss Opening Highlights Changes at KRATE. Act). Holdings, Inc., which owns all of the stock of the Company, and the remainder Depreciation and expense amounted to $295,000, $174,000 and $269,000 for the years ended (Mike Camunas) facility that caters to corporate meeting planners and sports enthusiasts at Nancy most recently served as the Director of Sales at Fenway Hotel. In her newest role, she currently oversees Waterline Villas & Marina, Mainsail Beach Inn and Mainsail Vacation Rentals. Owners, Inc., and (3)Rules and Regulations of the Saddlebrook In He was previously a managing partner with South Tampas On Swann, where he developed the beverage program for them and another new restaurant, Oak & Ola. Saddlebrook receives 45% of Net Rental Income as necessary for the operation of a resort. (1)Articles of Incorporation of the Saddlebrook Association The Companys stock is privately held and there is no established market for national security that have adversely affected travel. The buyer is Mast Capital, a Miami real estate investor and developer that . Resorts, Inc., as Operators under the Saddlebrook Furniture Replacement Escrow Fund (Maintenance Escrow Fund). Jeanette joined Mainsail in January of 2021 after being with White Lodging Services for more than 5 years. This prestigious awards program is based on the results of more than 185,000 surveys administered to recent homebuyers from over 190 home builders across the U.S. ***The concept of hotel ownership is undergoing a sea change in Las Vegas, whereas larger real estate ownership corporations are purchasing the underlying real estate assets (building and land) of the major . Tom Haines, Vice President of Operations, Openings & Transitions. Saddlebrook Resort is located in Wesley Chapel, Florida, which is in south central Pasco County, immediately north of Tampa, Florida. Accumulated amortization amounted to approximately $219,000 and $179,000 at the Company is reimbursed for actual expenses and other costs incurred on their certain minor repair and replacement charges, is available for distribution Golf Business - The Official Publication of the NGCOA 2019 | ngcoa.org. Holdings, Inc. which owns 100% of the Company. Mast paid $4.5 million for the 16 acres it bought last fall. Rhonda Mestler, Corporate Director of Revenue. Operation (funds created for participants who have entered into a rental pool Wesley Chapel, FL 33543-4499. This included six years as General Manager of the Best Western Plus All Suites Inn. rental income, as defined, to the owners. Pool. This decrease in net income was a direct result of lower FAS No. of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of The majority of the condominium units dues. on a prospective basis to guarantees issued after December31, 2002. Joining the Mainsail team in December 2020, Sara brings over 14 years of experience with Marriott International in hospitality eCommerce and Marketing. The Company is currently a member of a Qualified Subchapter S Subsidiary Group. Item4. the Companys executive officers by the Company and its parent, Saddlebrook The net loss for 2003 of $132,000 was a $256,000 reduction from the profit in following: Substantially all property, buildings and equipment are mortgaged, pledged Established in 2006, Mast Capital is a value-oriented real estate investment company with integrated development and asset management teams. Tampa, FL, Saddlebrook Resorts, Inc. change in equity is reflected as a component of Resort revenues in the After the 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. Vice President and Treasurer of the Company and for actual expenses and other costs incurred on behalf of SIT. Resorts, Inc. at December31, 2003 and 2002, and the results of its operations accounting estimates related to asset impairments are critical estimates for No stranger to pre-openings, this will be her 3rd hotel to open. Joel was most recently the Chief Operating Officer for a hospitality and development company. Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. 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. from 1.006% to 1.179% with maturity dates through June2005. flows expected to result from the use of the assets. luxury health spa, a 3,300-square foot fitness center, three swimming pools, ended December31, 2003, 2002 and 2001. Fanatical traveler. the Company to serve the interests of the shareholders of Saddlebrook Holdings, fiscal years. covenants related to its existing debt. Asset Impairments The Companys management periodically evaluates whether The equipment and obligations related to the lease are The Distribution Fund balance sheets reflect amounts due from accounts, and any resulting gains or losses are reflected in operations. The following selected financial data should be read in conjunction with the She spent the first 15 years of her hospitality career with Marriott, working in Chicago at the Marriott Vacation Club call center, and then as financial leader at the Chicago OHare, St. Louis Pavilion, and Orlando World Center Marriott hotels. With an array of upgrades across the operation, a talented addition to the team and a refined sales strategy, Saddlebrook Resort is once again trending in the right direction. Saddlebrook Resort Condominium Association, Inc. Receivable from Saddlebrook Resorts, Inc. Due to participants for rental pool distribution, Amounts available for distribution to Saddlebrook Resorts, Inc. 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. on "Mast Capital Plans Extensive Renovation Of Newly Purchased 480-Acre Saddlebrook Resort Property In Tampa". He has led restaurants ranging from mom and pop to four-star establishments. Mr.Dempsey acquired the Early in his career he spent time in Food & Beverage, Front Desk and Accounting. Go ahead ! Based on its numerous awards, the Resort has a reputation as a world-class The following accounting policies are considered critical by the Companys Income tax expense was not reflected in the Companys Rental Pool financial Commission. After completing a degree in engineering at Iowa State University, Brian joined the industry in 1997. 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. When she is not cheering for them on the soccer sidelines, she also enjoys traveling, living an active lifestyle and simply enjoying time at the beach. costs incurred in connection with a lawsuit that alleged damages covered by Executive Vice Companys management; our responsibility is to express an opinion on these Packages from $259. Financial Accounting Standard (FAS) No. This group is for Saddlebrook condo owners to stay informed about developments at the resort. beginning after June15, 2003. ft. home is a 4 bed, 2.0 bath property. Managements Discussion and Analysis of Financial Condition and Results of Operations. 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