Other Current Liabilities and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Other Current Liabilities and Other Liabilities

Schedule of other current liabilities

Other current liabilities consisted of the following (in thousands):

	June 30,		December 31,
	2020		2019
	(unaudited)
Property, sales and use taxes payable	$	12,317	$	16,074
Accrued interest		8,237		6,735
Advance deposits		13,752		18,001
Management fees payable		54		1,527
Other		2,140		4,618
Total other current liabilities	$	36,500	$	46,955

Schedule of other liabilities

Other liabilities consisted of the following (in thousands):

	June 30,		December 31,
	2020		2019
	(unaudited)
Deferred revenue	$	5,504	$	5,225
Deferred property taxes payable (1)		9,374		8,887
Interest rate swap derivatives		7,272		1,081
Other		3,224		2,943
Total other liabilities	$	25,374	$	18,136

(1) Under the terms of a sublease agreement at the Hilton Times Square, sublease rent amounts are considered to be property taxes under a payment-in-lieu of taxes (“PILOT”) program. In accordance with the terms of the sublease agreement, a portion of the property taxes have been deferred, with installments due beginning in 2020 through 2029. At June 30, 2020, an additional $1.4 million of deferred property taxes payable is included in accounts payable and accrued expenses on the Company’s consolidated balance sheet.