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Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2023
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table summarizes the advisory services fees incurred (in thousands):
|  |  | Year Ended December 31, |
|  |  |  |  | 2023 |  | 2022 |  | 2021 |
Advisory services fee |  |  |  |  |  |  |  |  |  |
Base advisory fee |  |  |  |  | $ | 33,109 |  |  | $ | 34,802 |  |  | $ | 36,239 |  |
Reimbursable expenses (1) |  |  |  |  | 12,473 |  |  | 9,851 |  |  | 6,934 |  |
Equity-based compensation (2) |  |  |  |  | 3,268 |  |  | 5,244 |  |  | 9,140 |  |
Total advisory services fee |  |  |  |  | $ | 48,850 |  |  | $ | 49,897 |  |  | $ | 52,313 |  |
________ (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 following table summarizes the advisory services fees incurred (in thousands):
|  |  | Year Ended December 31,
|  |  |  |  | 2023
Advisory services fee |  |  |  |  |
Base advisory fee |  |  |  |  | $ | 67 |
Reimbursable expenses (1) |  |  |  |  | 10 |
Total advisory services fee |  |  |  |  | $ | 77 |
________ (1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards 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 |  |  |  |  |  | 2023 |  | 2022 |  | 2021
Corporate, general and administrative |  |  |  |  |  | $ | 3,030 |  |  | $ | (2,617) |  |  | $ | 19 |
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, 2023 |
Company |  | Product or Service |  | Total |  | Investments in Hotel Properties, net (1) |  | Indebtedness, net (2) |  | Other Assets (4) |  | Other Hotel Revenue |  | Management Fees |
Ashford LLC |  | Insurance claims services |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
Ashford Securities |  | Capital raise services/Broker dealer expense |  | 5,120 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
INSPIRE |  | Audio visual commissions |  | 9,955 |  |  | — |  |  | — |  |  | — |  |  | 10,064 |  |  | — |  |
Lismore Capital |  | Debt placement and related services |  | 2,444 |  |  | — |  |  | 767 |  |  | 525 |  |  | — |  |  | — |  |
OpenKey |  | Mobile key app |  | 122 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
Premier |  | Design and construction services |  | 22,961 |  |  | 21,106 |  |  | — |  |  | — |  |  | — |  |  | — |  |
Pure Wellness |  | Hypoallergenic premium rooms |  | 1,393 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
Remington Hospitality |  | Hotel management services (3) |  | 57,587 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30,787 |  |
|  |  |  | Year Ended December 31, 2023
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 |  | Preferred Stock
Ashford LLC |  | Insurance claims services |  | $ | 9 |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Ashford Securities |  | Capital raise services/Broker dealer expense |  | 5,120 |  |  | — |  |  | — |  |  | — |  |  | 3,030 |  |  | — |  |  | 2,090 |
INSPIRE |  | Audio visual commissions |  | 9,955 |  |  | — |  |  | — |  |  | — |  |  | 109 |  |  | — |  |  | — |
Lismore Capital |  | Debt placement and related services |  | 2,444 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,152 |  |  | — |
OpenKey |  | Mobile key app |  | 122 |  |  | 122 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Premier |  | Design and construction services |  | 22,961 |  |  | — |  |  | — |  |  | 1,855 |  |  | — |  |  | — |  |  | — |
Pure Wellness |  | Hypoallergenic premium rooms |  | 1,393 |  |  | 1,393 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Remington Hospitality |  | Hotel management services (3) |  | 57,587 |  |  | 26,800 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  |  |  | 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 Hospitality |  | 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 Hospitality |  | 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 Hospitality |  | 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 Hospitality |  | Hotel management services (3) |  | 35,526 |  | 17,772 |  |  | — |  |  | — |  |  | — |  |  | — |  |
________ (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)The Lismore fees in “other assets” on our consolidated balance sheets are amortized to “write-off of premiums, loan costs and exit fees.” The following table summarizes amounts due (to) from Ashford Inc. (in thousands):
|  |  |  | Due (to) from Ashford Inc.
Company |  | Product or Service |  | December 31, 2023 |  | December 31, 2022
Ashford LLC |  | Advisory services (1) |  | $ | (2,289) |  |  | $ | (1,831) |
Ashford LLC |  | Insurance claims services |  | (5) |  |  | (3) |
Ashford LLC |  | Casualty insurance |  | (4,057) |  |  | — |
Ashford Securities |  | Capital raise services/Broker dealer expense |  | (3,140) |  |  | 5,951 |
INSPIRE |  | Audio visual |  | (1,238) |  |  | (1,650) |
OpenKey |  | Mobile key app |  | (9) |  |  | (12) |
Premier |  | Design and construction services |  | (2,507) |  |  | (1,966) |
Pure Wellness |  | Hypoallergenic premium rooms |  | (17) |  |  | (3) |
|  |  |  | $ | (13,262) |  |  | $ | 486 |
(1) Includes liabilities associated with assets held for sale as of December 31, 2023.

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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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