Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2018

The following table summarizes the entities in which our advisor has an interest with which we or our hotel properties contracted for products and services, the amounts paid by us for those services, the applicable classification on our condensed consolidated financial statements and the amount payable to each entity (included in “due to Ashford Inc.”) (in thousands):



		Three Months Ended March 31, 2018						As of March 31, 2018		As of December 31, 2017
Company	Product or Service	Transaction Amount		Other Hotel Expenses		Corporate General and Administrative		Due to Ashford Inc.
OpenKey	Mobile key app	$	8	$	8	$	—	$	5	$	4
Pure Rooms	“Allergy friendly” premium rooms	9		9		—		—		45
RED Leisure	Watersports activities and travel/transportation services	180		180		—		—		—
Ashford LLC	Insurance claims services	38		—		38		38		—

The following table summarizes the advisory services fees incurred (in thousands):



	Three Months Ended March 31,
	2018		2017
Advisory services fee
Base advisory fee	$	2,107	$	2,003
Reimbursable expenses ⁽¹⁾	420		547
Equity-based compensation ⁽²⁾	2,547		(1,685		)
Incentive fee	170		—
Total	$	5,244	$	865

________


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


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