XML 76 R54.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

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.