Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

The following table summarizes the advisory services fees incurred (in thousands):


	Year Ended December 31,
		2021		2020			2019
Advisory services fee
Base advisory fee		$	36,239	$	34,745		$	36,269
Reimbursable expenses (1)		6,934		6,436			9,300
Equity-based compensation (2)		9,140		8,869		(3)	18,063

Total advisory services fee		$	52,313	$	50,050		$	63,632

________

(1)Reimbursable expenses include overhead, internal audit, risk management advisory and asset management services.

(2) Equity-based compensation is associated with equity grants of Ashford Trust’s common stock, LTIP units and Performance LTIP units awarded to officers and employees of Ashford LLC.

(3) During the year ended December 31, 2020, 7,000 PSUs were forfeited as a result of the separation of an executive officer from the Company. The forfeiture resulted in a credit to equity based compensation expense of approximately $1.9 million for the year ended December 31, 2020.

The table below summarizes the amount Ashford Trust has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):


	Year Ended December 31,
Line Item		2021		2020		2019
Corporate, general and administrative		$	19	$	1,998	$	896

The following table presents the fees related to our hotel and design and construction services agreements with Remington Lodging prior to its transactions with Ashford Inc. (in thousands):


	Year Ended December 31, 2019

Hotel management fees, including incentive hotel management fees	$	27,205

Corporate general and administrative	6,014
Total	$	33,219

The following tables summarize the entities in which our advisor has an interest with which we or our hotel properties contracted for products and services, the amounts recorded by us for those services and the applicable classification on our consolidated financial statements (in thousands):


		Year Ended December 31, 2021
Company	Product or Service	Total	Investments in Hotel Properties, net (1)	Indebtedness, net (2)	Other Assets	Other Hotel Revenue	Management Fees

Ashford LLC	Insurance claims services	74	—	—	—	—	—
Ashford Securities	Capital raise services	19	—	—	—	—	—
INSPIRE	Audio visual commissions	2,993	—	—	—	2,993	—

Lismore Capital	Debt placement and related services	7,220	—	784	792	—	—
Lismore Capital	Broker services	955	—	955	—	—	—
OpenKey	Mobile key app	121	—	—	—	—	—
Premier	Design and construction services	5,940	5,192	—	—	—	—
Pure Wellness	Hypoallergenic premium rooms	1,366	—	—	—	—	—
Remington Hotels	Hotel management services (3)	35,526	—	—	—	—	17,754


		Year Ended December 31, 2020
Company	Product or Service	Total			Investments in Hotel Properties, net (1)		Indebtedness, net (2)		Other Assets		Other Hotel Revenue		Management Fees
AIM	Cash management services	$	995		$	—	$	—	$	—	$	—	$	—
Ashford LLC	Insurance claims services	118			—		—		—		—		—

INSPIRE	Audio visual commissions	2,187			—		—		—		2,187		—

Lismore Capital	Debt placement and related services	16,570		(4)	—		128		4,388		—		—
Lismore Capital	Broker services	170			—		—		70		—		—
OpenKey	Mobile key app	118			—		—		—		—		—
Premier	Design and construction services	6,801			5,727		—		—		—		—
Pure Wellness	Hypoallergenic premium rooms	967			38		—		—		—		—
Remington Hotels	Hotel management services (3)	27,443			—		—		—		—		15,835


		Year Ended December 31, 2020
Company	Product or Service	Total		Other Hotel Expenses		Property Taxes, Insurance and Other		Advisory Services Fee		Corporate, General and Administrative		Write-off of Premiums, Loan Costs and Exit Fees
AIM	Cash management services	$	995	$	—	$	—	$	—	$	995	$	—
Ashford LLC	Insurance claims services	118		—		—		—		—		—

INSPIRE	Audio visual commissions	2,187		—		118		—		—		—

Lismore Capital	Debt placement and related services	16,570		—		—		—		—		12,054
Lismore Capital	Broker services	170		—		—		—		—		100
OpenKey	Mobile key app	118		118		—		—		—		—
Premier	Design and construction services	6,801		—		—		1,074		—		—
Pure Wellness	Hypoallergenic premium rooms	967		929		—		—		—		—
Remington Hotels	Hotel management services (3)	27,443		11,608		—		—		—		—


		Year Ended December 31, 2019
Company	Product or Service	Total		Investments in Hotel Properties, net (1)		Indebtedness, net (2)		Other Hotel Revenue		Other Hotel Expenses		Management Fees
AIM	Cash management services	$	1,206	$	—	$	—	$	—	$	—	$	—
Ashford LLC	Insurance claims services	75		—		—		—		—		—
Ashford Securities	Broker/Dealer	896		—		—		—		—		—
INSPIRE	Audio visual commissions	7,365		—		—		7,365		—		—
INSPIRE	Equipment	24		24		—		—		—		—
Lismore Capital	Debt placement and related services	1,294		—		(1,215)		—		—		—
Lismore Capital	Broker services	427		—		—		—		—		—
OpenKey	Mobile key app	112		3		—		—		109		—
Premier	Design and construction services	20,004		18,281		—		—		—		—
Pure Wellness	Hypoallergenic premium rooms	1,021		599		—		—		422		—
Remington Hotels	Hotel management services (3)	9,152		—		—		—		5,356		3,796


		Year Ended December 31, 2019
Company	Product or Service	Total		Property Taxes, Insurance and Other		Advisory Services Fee		Corporate, General and Administrative		Gain (Loss) on Disposition of Assets and Hotel Properties		Write-off of Premiums, Loan Costs and Exit Fees
AIM	Cash management services	$	1,206	$	—	$	—	$	1,206	$	—	$	—
Ashford LLC	Insurance claims services	75		75		—		—		—		—
Ashford Securities	Broker/Dealer	896		—		—		896		—		—
INSPIRE	Audio visual commissions	7,365		—		—		—		—		—
INSPIRE	Equipment	24		—		—		—		—		—
Lismore Capital	Debt placement and related services	1,294		—		—		—		—		79
Lismore Capital	Broker services	427		—		—		—		427		—
OpenKey	Mobile key app	112		—		—		—		—		—
Premier	Design and construction services	20,004		—		1,723		—		—		—
Pure Wellness	Hypoallergenic premium rooms	1,021		—		—		—		—		—
Remington Hotels	Hotel management services (3)	9,152		—		—		—		—		—

________

(1)Recorded in FF&E and depreciated over the estimated useful life.

(2)Recorded as deferred loan costs, which are included in “indebtedness, net” on our consolidated balance sheets and amortized over the initial term of the applicable loan agreement.

(3)Other hotel expenses include incentive hotel management fees and other hotel management costs

(4)Amount excludes a $506,000 claw back credit due to Ashford Trust. See Lismore Advisory Fee section above.

The following table summarizes amounts (due to) due from Ashford Inc. (in thousands):


		(Due to)/Due from Ashford Inc.
Company	Product or Service	December 31, 2021		December 31, 2020
Ashford LLC	Advisory services	$	2,121	$	(9,533)

Ashford LLC	Insurance claims services	(19)		(30)
AIM	Cash management services	—		111
INSPIRE	Audio visual	(850)		(131)
OpenKey	Mobile key app	(14)		(13)
Premier	Design and construction services	(1,185)		(323)
Pure Wellness	Hypoallergenic premium rooms	(15)		(44)
Lismore Capital	Debt placement and related services	(13)		(3,420)
		$	25	$	(13,383)