Accounts Payable and Other Liabilities

3 Months Ended

Mar. 31, 2025

Accounts Payable and Other Liabilities

Accounts Payable and Other Liabilities

9. Accounts Payable and Other Liabilities

Accounts payable and other liabilities consist of the following:

	March 31,		December 31,
	2025		2024
Accounts payable	$	25,986	$	22,847
Income tax payable		2,271		1,849
Finance lease liabilities		638		406
Operating lease liabilities		3,907		4,366
Accrued compensation		5,581		7,635
Other accrued liabilities		7,818		4,982
Club membership deposits		3,155		3,155
Advance deposits		11,983		5,879
Accrued interest expense for Senior Notes held by SPE		713		2,850
Total accounts payable and other liabilities	$	62,052	$	53,969

Accounts payable as of March 31, 2025 and December 31, 2024, primarily include payables and retainage related to the Company’s development and construction projects.

Other accrued liabilities include $2.5 million of accrued property taxes as of March 31, 2025, which are generally paid annually in November. As of December 31, 2024, the Company had no accrued property taxes.

Advance deposits consist of deposits received on hotel rooms and related hospitality activities. Advance deposits are recorded as accounts payable and 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.