Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2018

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



		Three Months Ended September 30, 2018
Company	Product or Service	Total, net		Investments in Hotel Properties, net (1)		Indebtedness, net (2)		Other Hotel Expenses		Corporate General and Administrative
OpenKey	Mobile key app	$	5	$	—	$	—	$	5	$	—
Pure Rooms	Hypoallergenic premium rooms	128		117		—		11		—
RED Leisure	Watersports activities and travel/transportation services	180		—		—		180		—
Premier	Project management services	1,125		1,125		—		—		—
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.



		Nine Months Ended September 30, 2018
Company	Product or Service	Total, net		Investments in Hotel Properties, net (1)		Indebtedness, net (2)			Other Hotel Expenses		Corporate General and Administrative
OpenKey	Mobile key app	$	17	$	—	$	—		$	17	$	—
Pure Rooms	Hypoallergenic premium rooms	147		117		—			30		—
RED Leisure	Watersports activities and travel/transportation services	540		—		—			540		—
Premier	Project management services	1,125		1,125		—			—		—
Lismore Capital	Mortgage placement services	999		—		(999		)	—		—
Ashford LLC	Insurance claims services	100		—		—			—		100

________


⁽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):



		September 30, 2018		December 31, 2017
Company	Product or Service	Due to Ashford Inc.
Ashford LLC	Advisory services	$	2,525	$	1,654
Ashford LLC	Insurance claims services	30		—
OpenKey	Mobile key app	2		4
Pure Rooms	Hypoallergenic premium rooms	—		45
Premier	Project management services	625		—
		$	3,182	$	1,703

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



	Three Months Ended September 30,					Nine Months Ended September 30,
	2018		2017			2018		2017
Advisory services fee
Base advisory fee	$	2,508	$	2,300		$	6,928	$	6,579
Reimbursable expenses ⁽¹⁾	529		462			1,448		1,541
Equity-based compensation ⁽²⁾	1,316		(948		)	5,240		(2,298		)
Incentive fee	1,380		—			2,241		—
Total	$	5,733	$	1,814		$	15,857	$	5,822

________


⁽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.