Other Liabilities

Other liabilities consist of the following:



	September 30, 2017		December 31, 2016
Accounts payable	$	8,838	$	4,376
Accrued compensation	1,911		2,655
Deferred revenue	17,043		15,289
Membership deposits and initiation fees	9,328		7,384
Advance deposits	4,083		3,419
Other accrued liabilities	7,961		4,977
Accrued interest expense for Senior Notes held by SPE	712		2,850
Total other liabilities	$	49,876	$	40,950

Deferred revenue at September 30, 2017 and December 31, 2016 includes $12.5 million related to a 2006 agreement pursuant to which the Company agreed to sell 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, which is evaluated periodically.

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 $3.7 million of accrued property taxes as of September 30, 2017, which are generally paid annually in November. As of December 31, 2016 the Company had no accrued property taxes.