Other Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transaction [Line Items]

Other Related Party Transactions

7. Other Related Party Transactions

We incurred management fees to Salamander Hospitality, LLC, an entity related to us by virtue of common ownership, of approximately $1,405,000 and $1,376,000 in 2024 and 2023, respectively. These fees are included in general and administrative expenses in the accompanying consolidated statements of operations.

At December 31, 2024 and 2023, we owed our affiliates approximately $1,148,800 and $681,600, respectively, and had receivables from affiliates of approximately $194,900 and $537,800, respectively. The affiliate receivables and payables are unsecured, non-interest bearing and are due on demand.

Pursuant to the terms of the New MLA and the Agreement, the Rental Pool Lease Operation reimbursed the Resort approximately $481,500 and $225,000 in 2024 and 2023, respectively, for maintenance and housekeeping labor, use of the telephone lines, and other supplies. These reimbursements are reflected as reductions of general and administrative expenses in the accompanying consolidated statements of operations and changes in member’s equity.

At December 31, 2024 and 2023 we were owed $268,702 and $184,890, respectively, from Innisbrook Condominium Association, a third party collectively owned by the condominium owners at Innisbrook. These receivables, which were recovered in 2025 and 2024, respectively, are included in prepaid expenses and other current assets.

All three of the condominiums that the Company owns participated in the Rental Pool under the Agreement in 2024 and 2023, in the same manner as all other Rental Pool participants.

Innisbrook Rental Pool Lease Operation

Related Party Transaction [Line Items]

Other Related Party Transactions

NOTE 3 - OTHER RELATED PARTY TRANSACTIONS

Pursuant to the terms of the New MLA and the Agreement, the Rental Pool Lease Operation reimbursed the Resort approximately $481,500 and $225,000 in 2024 and 2023, respectively, for maintenance and housekeeping labor, use of the telephone lines, and other supplies. At December 31, 2024 and 2023, no amounts were owed to the Resort for such items.

Salamander Innisbrook Condominium, LLC, a wholly owned subsidiary of Salamander Innisbrook, LLC, owns three condominiums. All three condominiums participate in the Rental Pool under the MLA in the same manner as other Rental Pool participants.