Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2018

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



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Advisory services fee
Base advisory fee	$	2,313	$	2,276	$	4,420	$	4,279
Reimbursable expenses ⁽¹⁾	499		532		919		1,079
Equity-based compensation ⁽²⁾	1,377		335		3,924		(1,350		)
Incentive fee	691		—		861		—
Total	$	4,880	$	3,143	$	10,124	$	4,008

________


⁽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.

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 paid by us for those services and the applicable classification on our condensed consolidated financial statements (in thousands):



		Three Months Ended June 30, 2018
Company	Product or Service	Transaction Amount		Investments in Hotel Properties, net ⁽¹⁾		Indebtedness, net ⁽²⁾			Other Hotel Expenses		Corporate General and Administrative
OpenKey	Mobile key app	$	4	$	—	$	—		$	4	$	—
Pure Rooms	“Allergy friendly” premium rooms	10		—		—			10		—
RED Leisure	Watersports activities and travel/transportation services	180		—		—			180		—
Lismore Capital	Mortgage placement services	999		—		(999		)	—		—
Ashford LLC	Insurance claims services	31		—		—			—		31

________


⁽¹⁾	Recorded in furniture, fixtures and equipment 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.



		Six Months Ended June 30, 2018
Company	Product or Service	Transaction Amount		Investments in Hotel Properties, net ⁽¹⁾		Indebtedness, net ⁽²⁾			Other Hotel Expenses		Corporate General and Administrative
OpenKey	Mobile key app	$	12	$	—	$	—		$	12	$	—
Pure Rooms	“Allergy friendly” premium rooms	19		—		—			19		—
RED Leisure	Watersports activities and travel/transportation services	360		—		—			360		—
Lismore Capital	Mortgage placement services	999		—		(999		)	—		—
Ashford LLC	Insurance claims services	69		—		—			—		69

________


⁽¹⁾	Recorded in furniture, fixtures and equipment 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.

The following table summarizes the due to Ashford Inc. (in thousands):



		June 30, 2018		December 31, 2017
Company	Product or Service	Due to Ashford Inc.
Ashford LLC	Advisory services	$	1,065	$	1,654
Ashford LLC	Insurance claims services	32		—
OpenKey	Mobile key app	3		4
Pure Rooms	“Allergy friendly” premium rooms	—		45
		$	1,100	$	1,703