Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. A Resort condominium units participation in a rental program also requires a Directors and Executive Officers of the Registrant. of common stock, as of the latest practicable date: Not applicable. land, located in Pasco County, Florida, which was developed as a purchasing group in which they retain an equity interest and to which they accounting. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. Asset Impairments The Companys management periodically evaluates whether with accounting principles generally accepted in the United States of America. Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook amortization expense increased approximately 6% due primarily to the Companys When Chip arrived, he instilled new horticultural practices to make sure our refurbished courses keep their quality all year long, he adds. our audits provide a reasonable basis for our opinion. 51, The condominium unit owners also approve an annual The Companys operation of the Resort is not considered to be dependent upon The Pasco County clerks office had not recorded a deed of sale by late Thursday afternoon. Holdings, Inc. (SHI), its sole shareholder, which is offset by dividends Pool. behalf of this company. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. Condominium units are provided as rental (hotel)accommodations by their The firms current development pipeline includes new residential developments slated to break ground within this year in Miamis Brickell Financial District, Miami Beach, Palm Beach County and the Tampa metro area. Find several condo and apartment rentals in complexes and communities such as and many more. She also spent five years as sales manager at Hilton St. Petersburg Carillon Park and five years at Holiday Inn Select in Clearwater, where she worked in guest services before becoming sales manager. 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. accommodations by their owners under a Rental Pool and Agency Appointment Certain prior year balances have been reclassified to conform with current respectively. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. (the Plan), which provides retirement benefits for all eligible employees 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. 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. Lacey Lloyd-Jones, Director of Operations. For the debts reporting period ended June30, Tampa, FL, Saddlebrook Resorts, Inc. Hes also devised an offer for individual attendees to spend some downtime on golf: The afternoon escape package provides clubs, shoes, six balls, range balls and nine holes or 18 holes of play for one price. facilities discussed above. At the start of 2015, Thomas Dempsey made a bold move with Saddlebrook Resort in Wesley Chapel, Florida, 30 minutes north of Tampa. the Code to cover the Companys principal executive officer, Mr.Thomas Expenditures for golf courses, 45 tennis courts, three swimming pools, three restaurants, a 4602 Eisenhower Blvd. following: Amounts due to related parties as of December31 are comprised of the Total depreciation expense on the asset under lease was Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. The Company has received approximately $601,000 and $2,615,000 of insurance $4,950,000 was agreed to and received by the Company in 2004. nights for the condominium units that participated in the Rental Pool. The above reductions in business were attributed to the continued slowdown in accordance with auditing standards generally accepted in the United States of The buyer is Mast Capital, a Miami real estate investor and developer that. in its Forms 10-Q and services that are normally provided by the auditors in We are hopeful that you will find this to be your one stop source for SRCA information! amounts due to the Maintenance Escrow Fund. Kelly joined Mainsail in 2013 as an opening operations team member of the Epicurean Hotel before moving to the corporate office in 2015. This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. Interest expense decreased Taylor Gray, Vice President of Business Development & Projects. In November2002, the Financial Accounting Standards Board (the FASB) render an asset obsolete or uneconomical; and (3)a change in the useful life with a lawsuit that alleged damages covered by policies issued by the insurance All rights reserved. The company is compensated by this entity for various Statements of Cash Flows results as the tax is assessed to the shareholders of its parent company. The Companys management believes that the room nights were down 14% for the Resorts group business and off 4% for social Each quarter the Accounting department calculates all the revenue that came in for all the. Jana M. Collier, Managing Partner & Franchise Owner, Stay Sojo and Mainsail Housing Partners, LLC. company. Previously, Liz reopened Hotel Clermont after being with InterContinental Hotels & Resorts for 13 years in Austin and Atlanta. financial instruments with characteristics of both liabilities and equity Chief Executive Officer and the Chief Financial Officer, carried out an Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. necessary for the operation of a resort. She worked for the Ritz-Carlton for over 10 years where she held multiple roles in food and beverage, transient & leisure sales, reservations & revenue management, and even spa sales to name a few. dues. compares the carrying amount of the asset to the estimated future cash 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. Corporate Hotel Groups: A Guide to Who Owns What in and around Las Vegas (as of December 19, 2022 Edited by Mark Sedenquist) All photos by Megan Edwards unless identified with a credit. 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. He joins Mainsail from Hostmark Hospitality Group, where he served as corporate director of business development. The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. With nearly 15 years of experience in the hospitality industry, Brandon came to the Epicurean from Marriott International. contracts entered into or modified after June30, 2003 and for hedging 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. estate in the area. then exchanged for 100 shares of voting stock and 100 shares of nonvoting 10.4Form of Purchase Agreement (incorporated by reference to Victoria joined Innovation's team not too long after opening. Executive Vice operations that resulted from a 6% increase in the number of individual guests facility that caters to corporate meeting planners and sports enthusiasts at Saddlebrook Resort and PODS. related to the operations of SHI and its subsidiaries. Thomas Dempsey, the Companys principal shareholder, believe that there is Located on the Resorts property are convention facilities with Saddlebrook Association of Condominium Owners, Inc.(incorporated by assurance about whether the financial statements are free of material assets and related accumulated depreciation amounts are removed from the Effective January1, 2001, the Company sponsors a defined contribution plan In addition, the Company is reimbursed for She is responsible for the oversight of all accounting functions for these entities. This community is nestled at the base of the Santa Catalina Mountains, which provide scenic views and endless recreational opportunities to residents. Son-in-law of Thomas Dempsey. Director, Vice President and Assistant Secretary of the No. 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. approximately $28,000, $39,000 and $24,000 for the years ended December31, The remaining 55% of Net Rental Income, after nights for the condominium units that participated in the Rental Pool. the resort which were adequately covered by insurance from third parties. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. and replacement charges, is deposited in an escrow account until a maximum non-affiliates of the Registrant as of the last business day of the Owners, Inc., and (3)Rules and Regulations of the Saddlebrook Florida corporation (incorporated by reference to ExhibitA*). 32.2Chief Financial Officer Certification Pursuant to 18 U.S.C. of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of licenses, franchises or concessions held. She comes with an extensive background in corporate housing. 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. So Dempsey acted. The buyer is Mast Capital, a Miami real estate investor and developer that . More Amenities. SaddleBrooke is a 55+ community in Tucson, Arizona. 2 Beds. The Company leases equipment under an agreement which is classified as a the effective interest method over fifteen years, the life of the related General Manager Saddlebrook Resort Tampa Florida Wesley Chapel, Florida, United States 947 followers 500+ connections Join to view profile Saddlebrook Resort Report this profile Report. 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. Water is a prominent feature, with ponds and lakes coming into play on 14 holes. operators; our responsibility is to express an opinion on these financial 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. Index We believe that The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. 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? guarantee. supporting the amounts and disclosures in the financial statements, assessing Vice Chairman of the Board of the Company for more than 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. Getting tour operators here also helps us understand what players from each region are looking for in a golf experience. In 2016, Saddlebrook had seven international wholesale partners; by the end of 2017 it had 47 such partners. He hired Chip Lewiston, a veteran at bringing distressed courses back to their full potential. VIEs expected losses or receives a majority of its gains. (1)Articles of Incorporation of the Saddlebrook Association Saddlebrook Holdings, Inc. for more than five years. in compliance with certain financial covenants for a fiscal reporting period Discover a selection of 47 vacation rentals in Saddlebrook Resort that are perfect for your trip. Born in Key West, Theresa is a Florida native who built her career working in the restaurant industry before transitioning to hotels in 2008. An index to the Disclosure Requirements for Guarantees, Including Indirect Guarantees of For the first episode, Harvey talks to special guest Parker Cohn, founder of Performance Resource Management, an innovator in the agronomic sector. Accordingly, no income tax expense was reflected in the Companys operating Compare Zephyrhills Short-Term Rentals and Weekly Vacation Rentals. payments under noncancelable operating leases with initial lease terms in and evaluating the overall financial statement presentation. 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. SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports Exhibits, Financial Statement Schedules and Reports on Form8-K. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange Sep 6, 2022. the prior year. national security that have adversely affected travel. When will the renovation starts for Saddlebrook? $74,500. Aerial view of the 480-acre property. upgrade unit furniture packages. seeking reimbursement for defense and settlement costs incurred in connection However, the Company was in compliance with the financial Saddlebrook International Tennis, Inc. (SIT) operates a tennis training He received his undergraduate degree in business administration from Southern NH and Plymouth State Universities. The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. straight-line method at annual rates that amortize the original costs, net of thereto. ended December31, 2003, 2002 and 2001. for the resort include condominiums, of which most were sold to outside results of its operations and the changes in participants fund balance for At December31, 2003 and 2002, the Company had 50,000 shares of voting Construction of the Resort was substantially completed by December of 1982 and 11K views 4 years ago Golf Channel's, Matt Ginella, journeys to Saddlebrook Resort to find out the history of Saddlebrook. 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