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Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Advisory services fee
Base advisory fee	$	8,249	$	8,613	$	16,718	$	17,348
Reimbursable expenses (1)	3,065		2,364		6,292		4,935
Equity-based compensation (2)	955		1,451		2,245		3,380
Incentive fee	—		(151)		—		—
Total advisory services fee	$	12,269	$	12,277	$	25,255	$	25,663

________

(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.

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


	Three Months Ended June 30,				Six Months Ended June 30,
Line Item	2023		2022		2023		2022
Corporate, general and administrative	$	981	$	664	$	1,100	$	1,191