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Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the advisory services fees incurred (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Advisory services fee
Base advisory fee$8,210 $7,985 $16,279 $15,948 
Reimbursable expenses (1)
3,345 2,744 6,527 9,142 
Equity-based compensation (2)
222 507 155 1,043 
Incentive fee(66)— 27 — 
Total advisory services fee$11,711 $11,236 $22,988 $26,133 
________
(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 June 30,Six Months Ended June 30,
2025202420252024
Advisory services fee
Base advisory fee$129 $195 $255 $452 
Reimbursable expenses (1)
66 43 92 90 
Performance participation fee
111 — 227 — 
Total advisory services fee$306 $238 $574 $542 
________
(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 June 30,Six Months Ended June 30,
Line Item2025202420252024
Corporate, general and administrative$2,158 $1,566 $3,738 $6,456