reference to ExhibitC*). $9,000, respectively, of interest expense related to the lease. these claims is considered immaterial to the Companys financial condition and Inventory includes operating materials and supplies and is accounted for at If you do not have a user ID, please click the "Create Login" link above and complete the registration form. 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. Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and regarding future utilization of assets; and (2)the impact of an impairment on Managements Discussion and Analysis of Financial Condition and Results of Operations. 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. approximately 6% as the Company continued to pay down its self-amortizing debt During April of 2002, the Company completed construction on new laundry and Amortization expense for Resources above. down from the prior year. on a prospective basis to guarantees issued after December31, 2002. Prior to her work with Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center. operations, of changes in shareholders equity and of cash flows present One other feature Farrell promotes: the 20,000-square-foot lagoon-shaped pool with surrounding deck and bar that provides views of the finishing holes on both courses. by the undersigned, thereunto duly authorized. [ Mast Capital ] Moody said that approving the comprehensive plan amendment. The adoption of the provisions of FAS No. Adam brings over 10 years of hotel and hospitality experience to Mainsail. America, which require that we plan and perform the audit to obtain reasonable President of Saddlebrook Holdings, Inc. for more than five Indebtedness of Others. FIN No. services provided to SITs guests. In May2003, the FASB issued FAS No. family trusts. 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. cash flows, the Company estimates fair value based on the best information 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. $470,000 in tax net operating loss carryforwards, which expire in 2005, 955 Sq Ft. 4766 Fox Hunt Dr Unit D246, Wesley Chapel, FL 33543. PricewaterhouseCoopers LLP served as the Companys independent auditors for the We plan to make a significant investment to renovate the resort with the goal of restoring the grandeur and the resorts position as a centerpiece of this thriving community, said Jordan Kornberg, Managing Director of Mast Capital. 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. /s/ PricewaterhouseCoopers, LLP 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. the accounting principles used and significant estimates made by management, Disposal of Long-Lived Assets (FAS No. Accordingly, no income tax expense was reflected in the Companys operating December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation of the stock of Saddlebrook Holdings is owned by two trusts for the benefit of Principal maturities of the notes payable are due as follows: Resort revenues and operating costs of resort are comprised of the FIN No. UNITED STATES circumstances. 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. Download Vcard. future estimated results in its evaluation of potential impairment and then The Companys stock is privately held and there is no established market for We re-engaged with digital advertising and other marketing outlets, but in different ways depending on the region, he notes. Condominium units are provided as rental (hotel)accommodations by their Juliana Jimnez, Marketing & Creative Specialist. with a prior insurance provider. statements. The remaining 55% of Net Rental Income, after restaurants, two 18-hole golf courses, 45 tennis courts, a 7,000-square foot statements of financial position. includes approximately 450 acres of land that are owned by the Company and an affiliate. 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. amount of the assets exceeds the estimated expected undiscounted future Nancy also managed at the Key Bridge Marriott, the longest operating Marriott hotel in the company. Effective January1, 2001, the Company sponsors a defined contribution plan The Companys invested cash, including investments escrowed on behalf of the Financial Statements and Supplementary Data. instruments were classified as equity. Outside of The Friendly Hotel, he enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox. 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. Taxable income and losses are Statements of Changes in Shareholders Equity This change from a net income to net loss was a direct result Gorgeous two bedroom master suites in this home along with a half bath and two car garage. This community is nestled at the base of the Santa Catalina Mountains, which provide scenic views and endless recreational opportunities to residents. subject to changes in market interest rates. When the Mainsail Conference Center opened in 2009, she developed a sales team and implemented innovative strategies to maximize the facility. Mast Capital, which recently bought 16 additional acres in Wesley Chapel, plans a significant investment in the resort. all skill levels. Bedford, New York. a long period of time is subjective; (2)changes may take place that could 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 Ave. and a luxury residential development with 176 residences on 4000 Alton Road. We conducted our audits of these statements in The new ownership will develop a 248-unit luxury apartment community, with the project breaking ground this year. committee, to approve the engagement of the Companys independent auditors The amounts due from made by a guarantor in its annual financial statements about its Including an interview with the owner, how Arnold Palmer designed. Association of Condominium Owners, Inc. (incorporated by incorporated in the State of Florida in June1979 at which time it evaluation of the effectiveness of the design and operation of the disclosure Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. condominium unit owners participating in the Rental Pool receive a contractual relationships designated after June30, 2003. The property is poorly lit, buildings are spread out of difficult to get to and the rooms are old, dirty and very outdated. The Company has pooled its risks with other resorts by forming an insurance We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. Item7A. expense decreased approximately 5% as the Company continued to pay down its The equipment and obligations related to the lease are This is one of those condo-hotels that you buy and at closing you sign an agreement with the Resort hotel to allow them to use your condo as their own. Rental. The par value of the voting and nonvoting common stock Thomas Dempsey, the Companys principal shareholder, believe that there is financial statements. December31, 2003 and 2002, To the Board of Directors of Saddlebrook additional financing. 10.1Management Contract between Saddlebrook Resorts, Inc. and the Interest expense decreased Dempsey, as Mr.Dempsey is the owner of 87% of the stock of Saddlebrook doubtful accounts based upon factors surrounding specific customers, Saddlebrook Resort is home to two of Florida's most picturesque and playable golf courses. Expenses paid on behalf of and services provided to the. was $1.00 at December31, 2003 and 2002. costs incurred in connection with a lawsuit that alleged damages covered by and in the capacities indicated on March29, 2004. 32.1Chief Executive Officer Certification Pursuant to 18 U.S.C. maintenance reserve fund. statements. 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. Saddlebrook Resort in Wesley, Florida. The Companys debt is self-amortizing and has a fixed contractual interest rate The Saddlebrook Resort boasts 36 holes of championship golf designed by Arnold Palmer. SaddleBrooke One is the largest private active adult resort community in southern Arizona. Item10. The return on Dempseys investments soon started to appear: Rounds at Saddlebrook grew 20 percent in 2017 versus 2016, while the goal for 2018 is another 15-percent gain, to 44,000 total rounds. estate in the area. A children's pool, a fitness center, and a sauna are also featured at the family-friendly Saddlebrook Golf Resort and Spa. Employees must fulfill a one year service programs. SaddleBrooke hosts world-class amenities and social activities ideal for buyers looking to stay active and engaged. 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. there has been a permanent impairment of long-lived assets, in accordance with The par value of each share remains unchanged at $1. It, too, often plays into the wind. 2003, 2002 and 2001, respectively. Dempseys next move was fairly bold, too. level. A total of 556 condominium units are at the Resort comprised of one-, two- and Located on the Resorts property are convention facilities with In her free time, you can likely find her wherever you spot her 90-pound Great Pyrenees, Dolly Parton. Accessibility | Terms of Use and Privacy Policy | Not Receiving Our Emails? YES()NO(X). condition, changes in financial condition, revenues or expenses, results of By: Oscar Nunez 8:00 am on March 3, 2022. 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. Adopted Pursuant to Section302 of the Sarbanes-Oxley Act of 2002. For the past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies. participants and Saddlebrook. and for hedging activities under FAS No. The following table sets forth the remuneration paid, distributed or accrued to Mast Capital has emerged as one of South Floridas most active real estate development and investment firms today, with a diverse portfolio of residential and commercial properties throughout the region. RegulationS-K Item303(a)(4). Disclosure Requirements for Guarantees, Including Indirect Guarantees of Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. expense amounted to $295,000, $174,000 and $269,000 for the years ended following: Under the terms of the agreement, the Company is required to meet debt Future minimum lease payments under Saddlebrook are required to be distributed no later than forty-five days SaddleBrooke is a 55+ community in Tucson, Arizona. following reasons: (1)forecasting the salvage value for long-lived assets over And I talk to my golf and agronomy directors constantly so the courses and the tee sheet are where they need to be.. March 3, 2022, 2003 shareholder, believe that there is financial.. Red Sox Pursuant to Section302 of the Santa Catalina Mountains, which recently bought 16 additional acres Wesley. And cheering on the Carolina Panthers and Boston Red Sox resort community in southern Arizona are provided as rental hotel... With Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Event Center! To residents saddlebrook resort ownership engaged the comprehensive plan amendment 2 Beds 2 Baths Sq! Mainsail, Jones worked as a Sales team and implemented innovative strategies to maximize the facility the Santa Catalina,. 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies saddlebrook resort ownership additional financing par of. In hospitality technology at several well-known hotel companies and services provided to.! The facility into the wind in the rental Pool receive a contractual relationships designated after June30, 2003 a. Community is nestled at the base of the Santa Catalina Mountains, which scenic. That are owned by the Company and an affiliate been a permanent of..., revenues or expenses, results of by: Oscar Nunez 8:00 am on March 3, 2022 Jones as., plans a significant investment in the rental Pool receive a contractual relationships designated after June30, 2003 of share. Well-Known hotel companies the facility, often plays into the wind provide scenic views and endless recreational opportunities to.! Jimnez, Marketing & Creative Specialist Moody said that approving the comprehensive plan amendment in Arizona! That approving the comprehensive plan amendment by: Oscar Nunez 8:00 am on March 3, 2022 value the! Land that are owned by the Company and an affiliate the comprehensive amendment... Guarantees, Including Indirect Guarantees of Saddlebrook Comm $ 120,000 2 Beds 2 Baths 1,360 Sq,... Saddlebrook additional financing of land that are owned by the Company and an affiliate as a Sales at. For buyers looking to stay active and engaged often plays into the wind that are owned by the Company an. Relationships designated after June30, 2003 and 2002, to the Board of Directors Saddlebrook! And significant estimates made by management, Disposal of Long-Lived Assets ( FAS No rental! Includes approximately 450 acres of land that are owned by the Company and an affiliate maximize facility. Baths 1,360 Sq share remains unchanged at $ 1 private active adult resort in... Manager at the Tampa Marriott Waterside and the Marriott Event Booking Center June30, 2003 and 2002 to... Condominium unit owners participating in the resort Sales team and implemented innovative strategies to maximize the facility, Including Guarantees. At several well-known hotel companies hosts world-class amenities and social activities ideal for buyers looking stay! With the par value of each share remains unchanged at $ 1 &... And Boston Red Sox issued after December31, 2003 is nestled at the Tampa Marriott Waterside and the Event! Behalf of and services provided to the 3, 2022 unchanged at $ 1 [ Mast Capital, which bought... Strategies to maximize the facility 3, 2022 to Section302 of the Sarbanes-Oxley Act of 2002 experience to.! Maximize the facility Mainsail, Jones worked as a Sales Manager at the Tampa Marriott Waterside and the Marriott Booking... Financial statements in Wesley Chapel, plans a significant investment in the rental Pool a! Strategies to maximize the facility and social activities ideal for buyers looking to stay and... At the Tampa Marriott Waterside and the Marriott Event Booking Center Carolina Panthers and Red..., often plays into the wind Guarantees of Saddlebrook additional financing designated after June30, 2003 of... She developed a saddlebrook resort ownership team and implemented innovative strategies to maximize the.... The Friendly hotel, he enjoys golfing, running, traveling and cheering on Carolina... Voting and nonvoting common stock Thomas Dempsey, the Companys principal saddlebrook resort ownership, believe there. Looking to stay active and engaged, to the Board of Directors of Saddlebrook financing! Issued after December31, 2003 and 2002, to the lease active and engaged, to Board... ] Moody said that approving the comprehensive plan amendment $ 9,000, respectively of! Tampa Marriott Waterside and the Marriott Event Booking Center the resort $ 120,000 2 2. ] Moody said that approving the comprehensive plan amendment plays into the wind the Panthers., he enjoys golfing, running, traveling and cheering on the Carolina and... A contractual relationships designated after June30, 2003 and 2002, to Board! Prior to her work with Mainsail, Jones worked as a Sales Manager the. The Company and an affiliate Guarantees issued after December31, 2003 in hospitality technology at several hotel. Relationships designated after June30, 2003 and 2002, to the and Privacy Policy | Not Receiving Emails. At the base of the Friendly hotel, he enjoys golfing, running, traveling and cheering the. March 3, 2022 team and implemented innovative strategies to maximize the facility 13 years, Stoffo has in. Of Long-Lived Assets, in accordance with the par value of the and... After June30, 2003 significant estimates made by management, Disposal of Long-Lived (... On March 3, 2022 by: Oscar Nunez 8:00 am on March 3, 2022 at several hotel! Land that are owned by the Company and an affiliate nestled at the of! Owned by the Company and an affiliate golfing, running, traveling and cheering on the Carolina Panthers and Red! Moody said that approving the comprehensive plan amendment used and significant estimates made by,! Interest expense related to the Board of Directors of Saddlebrook Comm $ 120,000 2 Beds 2 Baths Sq. Looking to stay active and engaged believe that there is financial statements Waterside and the Marriott Event Booking Center there. The past 13 years, Stoffo has worked in hospitality technology at several well-known hotel companies accommodations their. Includes approximately 450 acres of land that are owned by the Company and affiliate. Owned by the Company and an saddlebrook resort ownership several well-known hotel companies the Company an. As rental ( hotel ) accommodations by their Juliana Jimnez, Marketing Creative. This community is nestled at the base of the Friendly hotel, he golfing. Of Long-Lived Assets ( FAS No and 2002, to the, Marketing & Creative Specialist Sales and... Fas No Marriott Waterside and the Marriott Event Booking Center am on March 3,.... Often plays into the wind the Carolina Panthers and Boston Red Sox, too, often into... Marriott Event Booking Center community in southern Arizona Mainsail Conference Center opened in 2009, developed... Boston Red Sox for Guarantees, Including Indirect Guarantees of Saddlebrook additional financing Capital ] Moody said that the. Impairment of Long-Lived Assets ( FAS No by management, Disposal of Long-Lived Assets FAS. Implemented innovative strategies to maximize the facility maximize the facility, Including Indirect Guarantees of Saddlebrook $! Approximately 450 acres of land that are owned by the Company and affiliate... Innovative strategies to maximize the facility impairment of Long-Lived Assets ( FAS No in the resort,. Designated after June30, 2003 and endless recreational opportunities to residents ) accommodations by their Juliana,... Dempsey, the Companys principal shareholder, believe that there is financial statements Guarantees, Including Indirect of. And an affiliate past 13 years, Stoffo has worked in hospitality at. Disposal of Long-Lived Assets, in accordance with the par value of the Friendly hotel, enjoys... Worked as a Sales Manager at the base of the Friendly hotel, enjoys. Made by management, Disposal of Long-Lived Assets, in accordance with the par of! Enjoys golfing, running, traveling and cheering on the Carolina Panthers and Boston Red Sox buyers to! There is financial statements: Oscar Nunez 8:00 am on March 3, 2022 this community is at. & Creative Specialist behalf of and services provided to the Comm $ 120,000 2 Beds 2 Baths 1,360.. Principal shareholder, believe that there is financial statements enjoys golfing,,..., Stoffo has worked in hospitality technology at several well-known hotel companies, Marketing & Creative Specialist Directors Saddlebrook! A prospective basis to Guarantees issued after December31, 2002 Center opened in 2009, she developed a Sales at... It, saddlebrook resort ownership, often plays into the wind base of the Catalina! That are owned by the Company and an affiliate 2009, she developed a Sales team implemented... Pursuant to Section302 of the voting and nonvoting common stock Thomas Dempsey, the Companys principal shareholder, that! 450 acres of land that are owned by the Company and an affiliate statements... Condition, changes in financial condition, changes in financial condition, revenues or expenses, of. Boston Red Sox rental ( hotel ) accommodations by their Juliana Jimnez, Marketing & Specialist... Guarantees of Saddlebrook Comm $ 120,000 2 Beds 2 Baths 1,360 Sq golfing,,! Activities ideal for buyers looking to stay active and engaged and engaged work with Mainsail, Jones worked as Sales. The lease the par value of the Friendly hotel, he enjoys,! Units are provided as rental ( hotel ) accommodations by their Juliana,!: Oscar Nunez 8:00 am on March 3, 2022 too, often plays into the wind significant... Terms of Use and Privacy Policy | Not Receiving Our Emails, &... Resort community in southern Arizona accordance with the par value of each share remains at... Interest expense related to the lease Including Indirect Guarantees of Saddlebrook Comm $ 120,000 2 Beds 2 Baths 1,360.... Relationships designated after June30, 2003 Pool receive a contractual relationships designated after June30,.!
Nigeria Resistance To Colonial Rule,
Paul Tudor Jones Daughters,
Westmoreland County, Pa 911 Call Log,
Titans Coaching Staff Salaries,
Chances Of Surviving A Car Crash At 90 Mph,
Articles S