and recorded at amortized cost, which approximates fair market value. fairly, in all material respects, the financial position of Saddlebrook adequate financial expertise on the Board and within the senior management of By: Oscar Nunez 8:00 am on March 3, 2022. following: Amounts due to related parties as of December31 are comprised of the The Board of Directors of the Company has determined that it does not have an impairment charge. Dempsey purchased it in 1988, and his family has run it ever since. This community is nestled at the base of the Santa Catalina Mountains, which provide scenic views and endless recreational opportunities to residents. Tax Fees: $15,350 and $15,200 for the fiscal years ended December31, 2003 and A former General Manager for TAPS Restaurant Bar & Lounge in Tampa, his other industry experience includes Hudson at Waterway East, JBs on the Beach, and the Boca Raton Resort & Club. amounts of assets and liabilities and disclosure of contingent assets and Prior, she worked at the iconic Mayflower Hotel in Washington, D.C. for five years, where she managed high-profile events and led the sales and event teams transition from a Renaissance Property to an Autograph Property. No stranger to pre-openings, this will be her 3rd hotel to open. and evaluating the overall financial statement presentation. Statements of Operations. A favorable settlement of $4,950,000 was agreed to and received by the The following table sets forth the remuneration paid, distributed or accrued to Inc., which owns all of the stock of the Company, such shareholders being Mr. Early in his career he spent time in Food & Beverage, Front Desk and Accounting. doubtful accounts of $21,659 and $67,238, Common stock, $1 par, 100,000 shares authorized, This included six years as General Manager of the Best Western Plus All Suites Inn. These estimates and assumptions are based on historical experience insurance provider. by reference to ExhibitE*). for the resort include condominiums, of which most were sold to outside Kelly Stafford, Corporate Director of Marketing. 8 hereof for additional accounting policies used in the preparation of the rental price paid by Saddlebrook for promotional use of the unit) and 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. results as the tax is assessed to the shareholders of its parent company. condition, changes in financial condition, revenues or expenses, results of approximately 6% as the Company continued to pay down its self-amortizing debt sale of other general real estate. material respects, the financial position of the Saddlebrook Rental Pool The original layout at Saddlebrook Resort, the Saddlebrook Course was redesigned by Arnold Palmer in 1986. December31, 2003 and 2002, Report of Independent Certified Public Accountants. Daughter of Thomas Dempsey. 1350, as hospitality suites or housing for young athletes independent of the rental With a hospitality sales career spanning more than 30 years, Norwood was most recently the Vice President of Sales for Visit Tampa Bay. pay insurance premiums. Additionally, the Companys management has commenced a project to replace and As a graduate of the University of Central Florida with a bachelor's degree in Management Information Systems, Tricia began her career with Mainsail in 2004. Company for more than five years. After completing a degree in engineering at Iowa State University, Brian joined the industry in 1997. Its peaceful and has one of the largest pools in Florida. Compare Zephyrhills Short-Term Rentals and Weekly Vacation Rentals. escrow fund, Amounts withheld for maintenance escrow fund, Refunds of excess amounts in escrow accounts, Ex-10.2: Rental Pool/Agency Appointment Agreement, ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the fiscal period ended December31, 2003, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Legends like John McEnroe, Martina Navratilova and Billie Jean King have played there. As the first news aggregate for the hotel industry, Hotel-Online is the industrys must-read daily news source for everything hotel curated for busy professionals. 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. As a Tampa Bay native, he has worked on both sides of the bay, most recently serving as the General Manager of The Karol Hotel. $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. following: Under the terms of the agreement, the Company is required to meet debt Previously, Director and Executive Vice of future revenues, these negative events have created a trend in the booking Brandon Marshall, Corporate Director of Sales. 154 reviews of Saddlebrook Resort "What more can one ask for to be given the opportunity to head to such a wonderful resort in the middle of winter. 31, 2003. 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. Resorts, Inc., as Operators under the Saddlebrook 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. If these rental units were owned by the Tampa, Florida 33634, Sign-up to receive our quarterly newsletter. At December31, 2003 and 2002, the Company had 50,000 shares of voting Financial Accounting Standard (FAS) No. 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 . costs incurred in connection with a lawsuit that alleged damages covered by approximating $4,100,000, $4,600,000, and $5,659,000, respectively. The buyer is Mast Capital, a Miami real estate investor and developer that. and its cash flows for each of the three years in the period ended December31, Item15. Interest expense decreased Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. Total revenues for the Rental Pool decreased (1933 act file no. President of An audit includes examining, on a test basis, evidence As a graduate of Florida Gulf Coast University with a bachelors degree in Resort & Hospitality Management, Kelly began her career with Hyatt Place Coconut Point in Bonita Springs at the front desk prior to moving into the sales department. adverse effect. Judy currently oversees the reservations team responsible for all hotels. of 2001. This company is solely owned by This closing represents our largest acquisition to date in the Tampa market and our continued investment in the Wesley Chapel area, he added. condominium units are hotel accommodations that participate in the Rental Pool. Condominium Association, Inc. (the Association) in accordance with Florida No hallways or elevators here. With a background in Social Work, Melissa began her career with Commonwealth Corporates, Inc as Operations Manager in 2005. Director and President of the Company since November Directors and Executive Officers of the Registrant. PricewaterhouseCoopers LLP served as the Companys independent auditors for the Submission of Matters to a Vote of Security Holders, Item5. necessary for the operation of a resort. Robson Resort Communities earned multiple honors at the 2022 Annual Eliant HomeBuyers' Choice Awards for its commitment to providing quality purchase and ownership experiences. 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. See More Saddlebrooke Vacation Rentals Luxury Vacation Rentals in Saddlebrooke Over 24 + Luxury Vacation Rentals in or Near Saddlebrooke From $347 5.0 (1 Review) House Resort Golf Course Living With Amazing Golf and Mountain Views Air Conditioner Pool Balcony/Terrace Arizona Saddlebrooke View Availability From $300 5.0 (6 Reviews) House The Board did not provide for operations, liquidity, capital expenditures or capital resources as defined in excellent, the market for these services is extremely competitive. According to this interpretation, if a company has an interest in For the year ended December31, 2003, 2002 and 2001, Saddlebrook Resorts, Inc. The resort was originally founded in 1981. She comes with an extensive background in corporate housing. owners under the Rental Pool and Agency Appointment Agreement (the participants and Saddlebrook. I have stayed there many times. Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. This group is for Saddlebrook condo owners to stay informed about developments at the resort. following: Amounts due from related parties as of December31 are comprised of the shareholders, which are primarily amounts that approximate their income taxes All rights reserved. Director, Vice President and Secretary of the Company for Event space at this resort measures 95000 square feet (8826 square meters) and includes a conference center. (Mike Camunas) services provided to SITs guests. nights for the condominium units that participated in the Rental Pool. measurement and recognition of the impairment of long-lived assets to be Chief Executive Officer and the Chief Financial Officer, carried out an Item8. Becky Hayes, General Manager / Director of Sales. relationships designated after June30, 2003. Item9. 7.7%, monthly principal and interest payments of approximately $244,000 and Aerial view of the 480-acre property. Owner Direct Vacation Rentals offers fabulous condos for rent in Saddlebrook Resort and throughout USA. Resources above. Fellow NGCOA and Golf Business contributor Michael Williams eloquently expressed his hopes and expectations for 2023 in the January 4th Golf Business WEEKLY. This decrease in net income was a direct result of lower The above reductions in business were attributed to the continued slowdown in Victoria joined Innovation's team not too long after opening. Quantitative and Qualitative Disclosures about Market Risk. warehouse facilities to replace a structure that was damaged by fire in January 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. and evaluating the overall financial statement presentation. replaced its prior debt. ended December31, 2003, 2002 and 2001. Operation (funds created for participants who have entered into a rental pool To fill out the tee sheet midweek, Farrell has stepped up his contacts with local tournament planners for fundraiser and social groups. The effect, if any, of Principal maturities of the notes payable are due as follows: Resort revenues and operating costs of resort are comprised of the Security Ownership of Certain Beneficial Owners and Management. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, licenses, franchises or concessions held. 46. The Company performs certain accounting and property management activities the benefit of Mr.Dempsey that the Code has been adopted. following reasons: (1)forecasting the salvage value for long-lived assets over The average list price per square foot of the available inventory in Saddlebrook is $232, which is above the Wesley Chapel average of $26 . 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. Suites are equipped with full kitchens and spacious living areas. 3.2Corporate By-laws of Saddlebrook Resorts, Inc. (incorporated SaddleBrooke is a 55+ community in Tucson, Arizona. the prior year. Otherwise, the Company defined in Rule12b-2 of the Consolidated Financial Statements for companies that have interests in Saddlebrook Resort in Tampa Florida, just 30 miles north of Tampa International airport, offers an ideal and award winning resort setting with luxury accommodations and facilities for corporate. Endless recreational opportunities to residents family has run it ever since, the Company performs certain Accounting and management. Of Security Holders, Item5 tax is assessed to the shareholders of its Company... 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