Other Liabilities

Other liabilities consist of the following:



	September 30, 2016		December 31, 2015
Accounts payable	$	2,724	$	2,585
Accrued compensation	2,541		3,366
Deferred revenue	15,493		15,584
Membership deposits and initiation fees	7,305		7,416
Advance deposits	3,291		3,574
Other accrued liabilities	11,339		6,505
Accrued interest expense for Senior Notes held by special purpose entity	712		2,850
Total other liabilities	$	43,405	$	41,880

Deferred revenue at September 30, 2016 and December 31, 2015 includes $12.5 million related to a 2006 agreement pursuant to which the Company agreed to sell rural land to the Florida Department of Transportation. Revenue is recognized when title to a specific parcel is legally transferred.

Membership deposits and initiation fees consist of deposits and fees received for club memberships. Initiation fees are recognized as revenue over the estimated average duration of membership.

Advance deposits consist of deposits received on hotel rooms and vacation rentals. Advance deposits are recorded as other liabilities in the condensed consolidated balance sheets without regard to whether they are refundable and are recognized as income at the time the service is provided for the related deposit.

Other accrued liabilities include $3.8 million of accrued property taxes as of September 30, 2016, which are generally paid annually in November. As of December 31, 2015 the Company had no accrued property taxes.