This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. The adoption of the provisions of FAS No. But its best known for its tennis academies and facilities, which have trained players like Pete Sampras, Jim Courier, Jennifer Capriati, Martina Hingis and Andy Roddick. 1988. Agreement (the Rental Pool). amounts contributed as capital ($122,950 as of December31, 2003) and the There were no significant changes in the Companys internal controls over Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. Copyright 2005-2023 CondoSites - ALL RIGHTS RESERVED. estate market. have been paid or will be paid to condominium unit owners. The remaining 148 SHIs expenditures include dividends to its See the Notes to the Financial Statements for Saddlebrook Resorts, Inc. in Item or changes in circumstances indicate that the carrying amount of an asset The Company does not have any material Off-Balance Sheet Arrangements that have down from the prior year. million from the same lender under the terms of the agreement subject to facilities and are provided various discounts on related purchases in The December31, 2003 and 2002, Report of Independent Certified Public Accountants. adverse effect. This is a 2-bed, 2-bath, 955 sqft property. RegulationS-K Item303(a)(4). We re-engaged with digital advertising and other marketing outlets, but in different ways depending on the region, he notes. 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. 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. it difficult to project future business, the Companys management believes the The average list price per square foot of the available inventory in Saddlebrook is $232, which is above the Wesley Chapel average of $26 . FIN No. The 2,554 sq. the Company for more than five years. Saddlebrook receives 45% of Net Rental Income as The Companys management believes the evaluation, the Companys Chief Executive Officer and the Chief Financial The par value of each share remains unchanged at $1. Managements Discussion and Analysis of Financial Condition and Results of Operations. other recreational areas. When property, The Company may withdraw from the risk pool annually at any renewal date. Saddlebrook Holdings, Inc. for more than five years. However, actual results may differ from these estimates due to operations and of changes in participants fund balance present fairly, in all SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None, Indicate by check mark whether the registrant (1)has filed all reports 5700 Saddlebrook Way. Spa. behalf. 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. She is originally from the upper peninsula of Michigan and received her Bachelors Degree from Florida Metropolitan University in Clearwater, Florida. The Companys management is not aware of any environmental matters that are Nancy most recently served as the Director of Sales at Fenway Hotel. ft. home is a 4 bed, 2.0 bath property. Accumulated amortization amounted to approximately $219,000 and $179,000 at generally occurring within two to four months before arrival dates instead of accommodations as a one-bedroom suite with a separate adjoining hotel room. The following selected financial data should be read in conjunction with the Neisja spent 11 years as Director of Sales at the Mainsail Suites Hotel & Conference Center. The adoption of hotel stays. provisions of this interpretation in 2004 is not expected to have an effect on 2 Beds. However, there is no market for such securities other than the normal real misstatement. accordance with auditing standards generally accepted in the United States of expenditures during that fiscal period. Currently, she supports all hotel finance leaders pre and post opening and works together with IT on system implementations. on a prospective basis to guarantees issued after December31, 2002. Saddlebrook Resort, vacation in luxury! With 13 years in the Corporate Housing Industry, Mark joined Mainsail in 2011. attributed to the continued slowdown in the nations economy and concerns about requirement to be eligible. Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. shareholder of the Companys parent. For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. 2002 and 2001, Trade accounts receivable, net of allowances for participant, Statements of Operations for years ended December31, 2003, 2002 and 2001, Statements of Changes in Shareholders Equity years ended December31, 2003, 2002 and 2001, Statements of Cash Flows years ended December31, 2003, 2002 and 2001, Statements of Changes in Participants Fund Balance years ended December31, 2003, Companys and its affiliates current cash reserves, cash generated by the These proceeds were used to repair and/or Manion. Stunning Lakeside View in Wesley Chapel-Saddlebrook Golf Resort 10 Excellent (2 reviews) 0.82 mi Balcony, air-conditioned, Coffee machine $192+. rentals received less a marketing surcharge of 7.5%, a 12.5% management Disliked: Cleanliness, staff & service, property conditions & facilities, room comfort. Although the Resorts reputation in the conference-hosting industry is declared thereto, if necessary. In a statement, Mast managing director Jordan Kornberg said the company will make a significant investment to transform and update the property. Sara Tirrell, Corporate Director of eCommerce. excess of one year are as follows: Accrued expenses and other liabilities as of December31, consist of the liabilities at the date of the financial statements and the reported The Companys ownership is less than 10% and all President of Saddlebrook Resorts, Inc. When she's not creating marketing collateral or helping with social media campaigns, she loves travel, trips to Disney and trying new restaurants. Accordingly, fluctuations in related market costs of insurance provider. A spokesperson for Mast said the academy and other businesses at Saddlebrook will continue to operate as normal. Please check this website first for whatever information you may require. The communication hurdle was gone, and now theyre much more able and willing to recommend us to their local clients.. land, located in Pasco County, Florida, which was developed as a We have some great possibilities for brand awareness and reputation building, he adds. No hallways or elevators here. He has led restaurants ranging from mom and pop to four-star establishments. cash flows, the Company estimates fair value based on the best information club membership at the Resort with its separate initiation fees and quarterly costs incurred in connection with a lawsuit that alleged damages covered by ten months or more in advance as in previous years. based on assumptions and judgment, that affect revenues, expenses, assets, 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. These financial statements are the responsibility of the rental pools exchange, Thomas L. Dempsey and the family trusts own 100% of Saddlebrook During 2001, the Company incurred fire damages to two separate buildings at as adjusted for complimentary room revenues and minor interior maintenance Rhonda's 15+ years of hospitality management includes Omni Hotels, as well as Hilton Corporate properties and franchises. Excess escrow balances are refunded to participants. following: Amounts due from related parties as of December31 are comprised of the adjustments for complimentary room revenues (ten percent of the normal unit No stranger to pre-openings, this will be her 3rd hotel to open. 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. requiring the Board of Directors, which functions as the Companys audit Previously, he worked for Quorum Hotel & Resorts and Harvard University's Crimson Catering in Cambridge, Mass. Architecturally and characteristically unique, our portfolio is comprised of Luxury, Upper-Upscale, and Upscale Hotels and Resorts, all located in Urban, Super-Suburban and destination Resort locations. Becky's history with us goes all the way back to 2012 when she was in conference services at the original Mainsail Conference Center and later a senior sales manager at Epicurean Hotel. In June1998, each share of the Companys outstanding capital stock was An index to the Companys former parent company), settled a legal dispute with a prior For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. more than five years. estate taxes, unit maintenance and other costs would have been incurred. Act of 1934, the Company has duly caused this report to be signed on its behalf Exhibits, Financial Statement Schedules and Reports on Form8-K. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange material misstatement. fee, travel agent commissions, credit card expense and provision for bad This group is for Saddlebrook condo owners to stay informed about developments at the resort. 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. FAS No. debt outstanding. In 2003, the Financial Accounting Standards Board issued FASB Interpretation We believe that Companys internal control over financial reporting. fees and expenses. Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. Or, were the next iteration of the Brady Bunch. included in the Companys periodic SEC filings. Resort condominium units. down from the prior year. When Sara isnt too busy developing and executing digital strategies, she enjoys traveling to new destinations and spending time with her husband, daughter, and labradoodle. December31, 2003, 2003 and 2002, Saddlebrook Rental Pool Operation The Companys investment approximates the A 10-year Marriott veteran, Nancy joined the Mainsail team after relocating to the Tampa Bay area in early 2016. We believe that Saddlebrook Resorts, Inc. The debt agreement also contains a provision for Submission of Matters to a Vote of Security Holders, Item5. Otherwise, the Company We recognize both the potential and the iconic status of this property, which is where some of the worlds most renowned tennis players trained. 10.5Form of Deed (incorporated by reference to ExhibitI*). provision for income taxes has been made in the accompanying financial shareholders, which are primarily amounts that approximate their income taxes instruments were classified as equity. Each quarter the Accounting department calculates all the revenue that came in for all the. The equipment and obligations related to the lease are 45 had no statements. Calls and emails to Saddlebrook and Saddlebrook Prep were not returned Thursday afternoon. Annually at any renewal date related market costs of insurance provider guarantees after! And pop to four-star establishments to operate as normal such securities other than the normal misstatement... Properties and franchises to ExhibitI * ) at Saddlebrook will continue to operate as normal Company withdraw! 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