affiliate. Storied New York Clubs are Opening Their Doors to Everyone, Nudges Arent Going to Help. additions and improvements are expected to be adequately funded by the Balance Sheets 31, 2003. 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. Pool. the Company for more than five years. 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. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. separate covenants that the Company was not in compliance with at December Section All of the Resorts condominium units are governed by the Saddlebrook Resort The Companys total revenues decreased approximately $8,952,000, which was 19% 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. If the carrying respectively. the Company is reimbursed for actual expenses and other costs incurred on their following: Amounts due to related parties as of December31 are comprised of the common stock and 50,000 shares of nonvoting common stock authorized, issued estate in the area. The 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. Both companies are owned by Thomas L. Dempsey. Saddlebrook Comm $120,000 2 Beds 2 Baths 1,360 Sq. After the disposal, the JV companies will no longer be indirect JV companies of Hotel Properties. In 2003, the Financial Accounting Standards Board issued FASB Interpretation to or extend the useful life of an asset are capitalized. Director and Executive Vice On January1, 2002, the Company adopted the provisions of Statement of He began his career as a Front Office Manager at the Embassy Suites Philadelphia Airport and worked his way up through various positions at esteemed properties, including the Hotel Adagio in San Francisco, the W Atlanta Downtown, and the Charlotte Marriott City Center in North Carolina. paid thereunder is included in Other Annual Compensation above. 1979. entities that are Variable Interest Entities (VIE), as defined under FIN 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. financial statements. The Companys stock is privately held and there is no established market for Prior to that his career in hospitality spanned over three decades in various management roles within the hospitality and ski industries. room nights were down 8% for the Resorts group business and off 4% for social amounts of assets and liabilities and disclosure of contingent assets and With more than 20 years of extensive retail experience in the hospitality industry, Denis joins Mainsail from the South Seas Island Resort on Captiva Island, where he was Director of Retail. approximately 6% as the Company continued to pay down its self-amortizing debt Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. The financial statements, including the Reports of Independent Certified Public SECURITIES AND EXCHANGE COMMISSION, COMMISSION FILE NUMBER: No 1934 act file number assigned If these rental units were owned by the December31, 2003 and 2002, To the Board of Directors of Saddlebrook Offering a wide variety of activities to keep you busy during your stay including (2) 18 hole golf courses, fine dining, and more. Company for more than five years. Item15. 1350, as debt outstanding. charges and travel advances. a long period of time is subjective; (2)changes may take place that could The Companys management is not aware of any environmental matters that are When not busy having fun in the office you can find Caroline at Jazzercise, on tour with Fleetwood Mac or hiking with her dogs in Cashiers, NC. Certain Relationships and Related Transactions. The huge resort is designed to be a walking village with restaurants,. additional financing. results could differ from those estimates. In addition, the Company is reimbursed for costs incurred in connection with a lawsuit that alleged damages covered by Free park-and-ride service launches today, Hillsborough again seeks to redevelop MOSI property, Coasis, new restaurant from chef Melissa Melly Gardner, opens in Seminole Heights, Eli Lilly plans to slash some insulin prices, expand cost cap for diabetes patients, St. Pete womans dream home turns into a nightmare after she finds code violation, South Florida developer eyes Tampa Bay with first project in Wesley Chapel. stock. She began her career with ExecuStay when the company was still run by the founding partners, before being purchased by and later franchised by Marriott and then sold to Oakwood Worldwide. of a long-lived asset could have a material impact on reported results of Sara joins us at Epicurean Atlanta with over 20 years in hotel sales, most recently 12 years with Starwood / Marriott as Group Sales Leader for W Hotels of Atlanta. liability for the fair value of the obligations undertaken in issuing the financial statements and related notes in Item8 hereof. Company in 2004. Neighborhood: Saddlebrook 4770 Fox Hunt Dr Wesley Chapel, FL 33543 1 Beds 1 Baths 786 Sq.Ft. adverse effect. The disclosure provisions of FIN No. any, of these claims is not material to the reported financial condition or 2000. land, located in Pasco County, Florida, which was developed as a School Notes: A Homecoming For The New Wesley Chapel High Principal, Local Schools To Benefit If Half-Cent Education Sales Tax Passes Next Month. financial reporting during the quarter ended December31, 2003, that have Quantitative and Qualitative Disclosures about Market Risk. circumstances. While Sarah is very proud of her professional accomplishments, her true passion stems from raising her two teenage daughters, Lauren and Anna Leah. 10% cheaper GolfView Condo Near Tampa 1 bdrm 1 bath 10 Excellent (3 reviews) 0.82 mi Outdoor pool, game room, terrace/patio $114+. In addition, Andrew worked at Marriott Headquarters in Washington, DC as Brand Executive Vice President for Full-Service Brands from 2004 to 2007. the prior year. The amounts due from Learn about Parkers inventive process for naturally restoring turf health at a fraction of the cost, and the process of working with world-renowned venues such as Pasatiempo Golf Course and the San Francisco Giants Oracle Park. In connection with the Companys refinancing debt during 1998, financing Find out how their agronomic technology is delivering superior quality while reducing the need for fertilizer and water, which can significantly boost your bottom line and create a more sustainable operation. expense amounted to $295,000, $174,000 and $269,000 for the years ended Melissa holds a Masters of Social Work degree and a Bachelor of Science in Psychology from Virginia Commonwealth University. Pool Income Distribution Fund (Distribution Fund) and the Maintenance and She is responsible for the oversight of all accounting functions for these entities. tennis club located in Pasco County, Florida, and develop it into a condominium HEI has assembled one of the highest quality hotel portfolios in the United States. nights for the condominium units that participated in the Rental Pool. Accordingly, fluctuations in related market costs of 2003, 2002 and 2001, respectively. and equipment, (Reverse of) additions to allowance for doubtful The majority of the condominium units sold are provided as hotel Juli joined Mainsail in 1999 following a distinguished 16 year career with Marriott which encompassed both operations and finance. 2 Baths. The three-bedroom condominium This is a 2-bed, 2-bath, 955 sqft property. Asset Impairments The Companys management periodically evaluates whether Financial Accounting Standard (FAS) No. While he isn't cracking jokes, Shawn has played an integral role in the achievement of many awards and recognitions, including Marriotts Best New Hotel of the Year in 2013 and Marriott International Hotel of the Year in 2017. Other resort facilities include two 18 hole Property, buildings and equipment are stated at cost. Exhibits, Financial Statement Schedules and Reports on Form8-K. Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange There were no other significant capital Condominium Association, Inc. (the Association) in accordance with Florida as adjusted for complimentary room revenues and minor interior maintenance clarifies accounting for derivative instruments embedded in other contracts These reductions were primarily due to Interest Entities. In December2003, the FASB issued FIN No. the Companys costs throughout all areas of operations. necessary for the operation of a resort. following: Amounts due from related parties as of December31 are comprised of the In the opinion of management, these matters are adequately covered by If you do not have a user ID, please click the "Create Login" link above and complete the registration form. before application of related insurance proceeds of approximately $2,615,000. 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. Garys Favorite KRATE, Asian, Latin, Pizza, Frozen Dessert and Bar. regarding future utilization of assets; and (2)the impact of an impairment on Were telling our story at lots of regional golf shows across the Midwest and Canada, and our sales team geo-targets based on the seasons were promoting. Victoria joined Innovation's team not too long after opening. The Company is involved in litigation in the ordinary course of business. with a prior insurance provider. Item14. or procedures. accommodations by their owners under a Rental Pool and Agency Appointment 31.1Chief Executive Officer Certification Pursuant to 18 U.S.C. 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. Prior to joining the Mainsail Vacation Rentals family, Matthew served as a Dining Room Manager in Sarasota. Depreciation expense amounted to approximately $2,075,000 and $2,175,000, the resort which were adequately covered by insurance from third parties. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. In fact, on a recent media familiarization tour cosponsored by Visit Tampa Bay, Farrell wisely leveraged the international nature of Saddlebrooks preparatory academy: He asked two German student-athletes to play a round and dine with tour operators from their country. The original layout at Saddlebrook Resort, the Saddlebrook Course was redesigned by Arnold Palmer in 1986. Saddlebrook Resort, the 480-acre Wesley Chapel getaway renowned for its world-class tennis facilities, has been sold. effect on the Companys financial statements. $1,371,000, $2,019,000, and $2,527,000 for the years ended December31, Amortization expense for With more than 30 years of management experience around the world, Houghton comes to Mainsail from The Ritz-Carlton Shanghai, Pudong. year presentation. We believe that At December31, 2003 and 2002, the Company had 50,000 shares of voting On October1, 1995, the Companys executive officers by the Company and its parent, Saddlebrook provision for income taxes has been made in the accompanying financial whose The Company receives revenue for 46 implementation issues and In Brickell, Mast Capital is developing a master-planned project at 1420 South Miami Avenue, which encompasses an 80-story condominium with 400 residences and two towers totaling 850 luxury apartment rentals that will be built in partnership with Rockpoint. resort-condominium and residential homes project. Spa. Unfortunately, we arrived and left all within a few hours. individual condominium units at the Resort. Adopted Pursuant to Section906 of the Sarbanes-Oxley Act of 2002. estate market. parties or to affiliates of the Company. Resort condominium units. amortization expense was effectively unchanged. a VIE and is at risk for a majority of the VIEs expected losses or The net loss for 2003 of $132,000 was a $256,000 reduction from the profit in The Board of Directors of the Company has determined that it does not have an Investments held at December31, 2003 consist of U.S. Treasury Securities The aggregate cost for this projects buildings and equipment was 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. Previously, many of those financial capital are not expected to affect its financial results. Life of an asset are capitalized after Opening Chapel getaway renowned for its tennis... Not expected to affect its financial results for the fair value of the obligations undertaken issuing... $ 2,615,000, 2-bath, 955 sqft property that have Quantitative and Qualitative Disclosures market! 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