13. Other Liabilities

Other liabilities consist of the following:


	December 31,		December 31,
	2019		2018
Accounts payable	$	16,207	$	10,148
Finance lease liability		204		—
Operating lease liabilities		691		—
Accrued compensation		3,151		3,112
Other accrued liabilities		3,277		2,560
Deferred revenue		18,972		17,478
Club initiation fees		6,917		5,676
Club membership deposits		3,985		4,286
Advance deposits		946		1,277
Accrued interest expense for Senior Notes held by SPE		2,850		2,850
Total other liabilities	$	57,200	$	47,387

Deferred revenue as of December 31, 2019 and 2018 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.

Club initiation fees are recognized as revenue over the estimated average duration of membership, which is evaluated periodically. The following table presents the changes in club initiation fees related to contracts with customers:


		Balance		Increases Due To		Decreases Due to		Balance
		January 1, 2019		Cash Received		Revenue Recognized		December 31, 2019
Contract liabilities
Club initiation fees	$	5,676	$	3,083	$	(1,842)	$	6,917


		Balance		Increases Due To		Decreases Due to		Balance
		January 1, 2018		Cash Received		Revenue Recognized		December 31, 2018
Contract liabilities
Club initiation fees	$	5,199	$	1,886	$	(1,409)	$	5,676

Advance deposits consist of deposits received on hotel rooms. Advance deposits are recorded as other liabilities in the 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.