Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of fees related to the management agreements with the related party

For the period from January 1, 2014 to November 11, 2014, we incurred advisory services fees to Ashford Trust. Beginning November 12, 2014, we incurred advisory services fees to Ashford Inc. The following table summarizes the advisory services fees incurred (in thousands):



	Year Ended December 31,
	2016		2015		2014
Advisory services fee
Base advisory fee	$	8,343	$	8,648	$	8,739
Reimbursable expenses ⁽¹⁾	2,798		1,827		1,690
Equity-based compensation ⁽²⁾	3,814		3,592		2,105
Incentive fee	—		3,822		—
	$	14,955	$	17,889	$	12,534

________


⁽¹⁾	Reimbursable expenses include overhead, internal audit, insurance claims advisory and asset management services.


⁽²⁾	Equity-based compensation is associated with equity grants of Ashford Prime’s common stock and LTIP units awarded to officers and employees of Ashford LLC.

At December 31, 2016, Remington Lodging managed two of our eleven hotel properties and we incurred the following fees related to the management agreements with the related party (in thousands):



	Year Ended December 31,
	2016		2015		2014
Property management fees, including incentive property management fees	$	1,503	$	1,313	$	747
Market service and project management fees	2,453		1,645		1,126
Corporate general and administrative expenses	136		98		50
Total	$	4,092	$	3,056	$	1,923