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Related Party Transactions (Tables)
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the advisory services fees incurred (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Advisory services fee
Base advisory fee$8,074 $8,121 $24,022 $24,839 
Reimbursable expenses (1)
3,268 2,884 12,410 9,176 
Equity-based compensation (2)
218 1,390 1,261 3,635 
Total advisory services fee$11,560 $12,395 $37,693 $37,650 
________
(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):
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
Advisory services fee
Base advisory fee$123 $353 
Reimbursable expenses (1)
62 152 
Performance allocation fee
111 333 
Total advisory services fee$296 $838 
________
(1)Reimbursable expenses include overhead, internal audit, risk management advisory and asset management services
The table below summarizes the amount Ashford Trust has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
Line Item2024202320242023
Corporate, general and administrative$1,935 $1,212 $8,391 $2,312