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Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2022
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table summarizes the advisory services fees incurred (in thousands):
|  |  | Year Ended December 31, |
|  |  |  |  | 2022 |  | 2021 |  | 2020 |
Advisory services fee |  |  |  |  |  |  |  |  |  |
Base advisory fee |  |  |  |  | $ | 34,802 |  |  | $ | 36,239 |  |  | $ | 34,745 |  |
Reimbursable expenses (1) |  |  |  |  | 9,851 |  |  | 6,934 |  |  | 6,436 |  |
Equity-based compensation (2) |  |  |  |  | 5,244 |  |  | 9,140 |  |  | 8,869 |  | (3)
Incentive fee |  |  |  |  | — |  |  | — |  |  | — |  |
Total advisory services fee |  |  |  |  | $ | 49,897 |  |  | $ | 52,313 |  |  | $ | 50,050 |  |
________ (1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards. (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 |  |  |  |  |  | 2022 |  | 2021 |  | 2020
Corporate, general and administrative |  |  |  |  |  | $ | (2,617) |  |  | $ | 19 |  |  | $ | 1,998 |
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, 2022
Company |  | Product or Service |  | Total |  | Investments in Hotel Properties, net (1) |  |  |  |  |  | Other Hotel Revenue |  | Management Fees |  | Other Hotel Expenses
Ashford LLC |  | Insurance claims services |  | $ | 17 |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Ashford Securities |  | Capital raise services |  | (2,566) |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |
Ashford Securities |  | Dealer manager fees |  | 44 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |
INSPIRE |  | Audio visual commissions |  | 7,973 |  |  | — |  |  |  |  |  |  | 7,973 |  |  | — |  |  | — |
Lismore Capital |  | Debt placement and related services |  | 1,631 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |
OpenKey |  | Mobile key app |  | 121 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | 121 |
Premier |  | Design and construction services |  | 18,776 |  |  | 17,482 |  |  |  |  |  |  | — |  |  | — |  |  | — |
Pure Wellness |  | Hypoallergenic premium rooms |  | 1,294 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | 1,294 |
Remington Hotels |  | Hotel management services (3) |  | 49,762 |  |  | — |  |  |  |  |  |  | — |  |  | 23,856 |  |  | 25,906 |
|  |  |  | Year Ended December 31, 2022
Company |  | Product or Service |  | Total |  | Preferred Stock |  | Property Taxes, Insurance and Other |  | Advisory Services Fee |  | Corporate, General and Administrative |  | Write-off of Premiums, Loan Costs and Exit Fees
Ashford LLC |  | Insurance claims services |  | $ | 17 |  |  |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Ashford Securities |  | Capital raise services |  | (2,566) |  |  | 51 |  |  | — |  |  | — |  |  | (2,617) |  |  | — |
Ashford Securities |  | Dealer manager fees |  | 44 |  |  | 44 |  |  | — |  |  | — |  |  | — |  |  | — |
INSPIRE |  | Audio visual commissions |  | 7,973 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Lismore Capital |  | Debt placement and related services |  | 1,631 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,631 |
OpenKey |  | Mobile key app |  | 121 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Premier |  | Design and construction services |  | 18,776 |  |  | — |  |  | — |  |  | 1,294 |  |  | — |  |  | — |
Pure Wellness |  | Hypoallergenic premium rooms |  | 1,294 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Remington Hotels |  | Hotel management services (3) |  | 49,762 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  |  |  | 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, 2021 |
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 |
Ashford LLC |  | Insurance claims services |  | $ | 74 |  | $ | — |  |  | $ | 74 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
Ashford Securities |  | Capital raise services |  | 19 |  | — |  |  | — |  |  | — |  |  | 19 |  |  | — |  |
INSPIRE |  | Audio visual commissions |  | 2,993 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
Lismore Capital |  | Debt placement and related services |  | 7,220 |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,644 |  |
Lismore Capital |  | Broker services |  | 955 |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
OpenKey |  | Mobile key app |  | 121 |  | 121 |  |  | — |  |  | — |  |  | — |  |  | — |  |
Premier |  | Design and construction services |  | 5,940 |  | — |  |  | — |  |  | 748 |  |  | — |  |  | — |  |
Pure Wellness |  | Hypoallergenic premium rooms |  | 1,366 |  | 1,366 |  |  | — |  |  | — |  |  | — |  |  | — |  |
Remington Hotels |  | Hotel management services (3) |  | 35,526 |  | 17,772 |  |  | — |  |  | — |  |  | — |  |  | — |  |
|  |  |  | 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 |  |  | — |  |  | — |  |  | — |  |  | — |
________ (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 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, 2022 |  | December 31, 2021
Ashford LLC |  | Advisory services |  | $ | (1,831) |  |  | $ | 2,121 |
Ashford LLC |  | Insurance claims services |  | (3) |  |  | (19) |
Ashford Securities |  | Capital raise services |  | 5,951 |  |  | — |
INSPIRE |  | Audio visual |  | (1,650) |  |  | (850) |
OpenKey |  | Mobile key app |  | (12) |  |  | (14) |
Premier |  | Design and construction services |  | (1,966) |  |  | (1,185) |
Pure Wellness |  | Hypoallergenic premium rooms |  | (3) |  |  | (15) |
Lismore Capital |  | Debt placement and related services |  | — |  |  | (13) |
|  |  |  | $ | 486 |  |  | $ | 25 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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