Accounts Payable and Other Liabilities

6 Months Ended

Jun. 30, 2026

Accounts Payable and Other Liabilities

9. Accounts Payable and Other Liabilities

Accounts payable and other liabilities consist of the following:


		June 30,			December 31,
		2026			2025
Accounts payable		$	23,119		$	17,227
Income tax payable			4,565			2,125
Finance lease liabilities			981			529
Operating lease liabilities			1,180			2,235
Accrued compensation			6,280			8,543
Other accrued liabilities			10,689			5,196
Club membership deposits			3,051			3,087
Advance deposits			10,972			6,505
Accrued interest expense for Senior Notes held by SPE			2,850			2,850
Total accounts payable and other liabilities		$	63,687		$	48,297

Accounts payable as of June 30, 2026 and December 31, 2025, primarily include payables and retainage related to the Company’s development and construction projects.

Other accrued liabilities include $4.8 million of accrued property taxes as of June 30, 2026, which are generally paid annually in November. As of December 31, 2025, 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.