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Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2022

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