Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2019

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



	Three Months Ended March 31,
	2019		2018
Advisory services fee
Base advisory fee	$	2,660	$	2,107
Reimbursable expenses ⁽¹⁾	580		420
Equity-based compensation ⁽²⁾	1,470		2,547
Incentive fee	1,314		170
Total	$	6,024	$	5,244

________


⁽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.

At March 31, 2019, Remington Lodging managed three of our thirteen hotel properties and we incurred the following fees related to the management agreements with the related party (in thousands):



	Three Months Ended March 31,
	2019		2018
Property management fees, including incentive property management fees	$	409	$	438
Market service and project management fees	—		1,369
Corporate general and administrative expenses	87		82
Total	$	496	$	1,889

n accordance with our advisory agreement, our advisor, or entities in which our advisor has an interest, have a right to provide products or services to us or our hotel properties, provided such transactions are evaluated and approved by our independent directors. 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 March 31, 2019
Company	Product or Service	Total		Investments in Hotel Properties, net ⁽¹⁾		Indebtedness, net ⁽²⁾			Other Hotel Revenue		Other Hotel Expenses		Advisory Services Fee		Corporate General and Administrative
Ashford LLC	Insurance claims services	$	30	$	—	$	—		$	—	$	—	$	—	$	30
J&S	Audio visual commissions	79		—		—			79		—		—		—
Lismore Capital	Mortgage placement services	275		—		(275		)	—		—		—		—
OpenKey	Mobile key app	5		—		—			—		5		—		—
Premier	Project management services	3,553		3,441		—			—		—		112		—
Pure Wellness	Hypoallergenic premium rooms	29		17		—			—		12		—		—
RED Leisure	Watersports activities and travel/transportation services	180		—		—			—		180		—		—

________


⁽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.



		Three Months Ended March 31, 2018
Company	Product or Service	Total		Other Hotel Expenses		Corporate General and Administrative
Ashford LLC	Insurance claims services	$	38	$	—	$	38
OpenKey	Mobile key app	8		8		—
Pure Wellness	Hypoallergenic premium rooms	9		9		—
RED Leisure	Watersports activities and travel/transportation services	180		180		—

________


⁽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):



		Due to Ashford Inc.
Company	Product or Service	March 31, 2019		December 31, 2018
Ashford LLC	Advisory services	$	2,940	$	2,264
Ashford LLC	Insurance claims services	30		37
J&S	Audio visual services	44		—
OpenKey	Mobile key app	12		13
Premier	Project management services	2,071		1,657
Pure Wellness	Hypoallergenic premium rooms	17		30
		$	5,114	$	4,001