Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2019

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



	Three Months Ended June 30,					Six Months Ended June 30,
	2019			2018		2019		2018
Advisory services fee
Base advisory fee	$	2,860		$	2,313	$	5,520	$	4,420
Reimbursable expenses ⁽¹⁾	681			499		1,261		919
Equity-based compensation ⁽²⁾	1,961			1,377		3,431		3,924
Incentive fee	(1,105		)	691		209		861
Total	$	4,397		$	4,880	$	10,421	$	10,124

________


⁽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 June 30, 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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Property management fees, including incentive property management fees	$	458	$	458	$	867	$	896
Market service and project management fees	—		1,128		—		2,497
Corporate general and administrative expenses	91		83		178		165
Total	$	549	$	1,669	$	1,045	$	3,558

In accordance with our advisory agreement, our advisor, or entities in which our advisor has an interest, has 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 June 30, 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	$	35	$	—	$	—	$	—	$	—	$	—	$	35
J&S Audio Visual	Audio visual services	121		—		—		121		—		—		—
OpenKey	Mobile key app	7		—		—		—		7		—		—
Premier	Project management services	1,687		1,534		—		—		—		153		—
Pure Wellness	Hypoallergenic premium rooms	47		36		—		—		11		—		—
RED Leisure	Watersport activities and travel/transportation services	180		—		—		—		180		—		—



		Six Months Ended June 30, 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	$	65	$	—	$	—		$	—	$	—	$	—	$	65
J&S Audio Visual	Audio visual services	200		—		—			200		—		—		—
Lismore Capital	Debt placement services	275		—		(275		)	—		—		—		—
OpenKey	Mobile key app	12		—		—			—		12		—		—
Premier	Project management services	5,240		4,975		—			—		—		265		—
Pure Wellness	Hypoallergenic premium rooms	76		53		—			—		23		—		—
RED Leisure	Watersport activities and travel/transportation services	360		—		—			—		360		—		—



		Three Months Ended June 30, 2018
Company	Product or Service	Total		Investments in Hotel Properties, net ⁽¹⁾		Indebtedness, net ⁽²⁾			Other Hotel Expenses		Corporate General and Administrative
Ashford LLC	Insurance claims services	$	31	$	—	$	—		$	—	$	31
OpenKey	Mobile key app	4		—		—			4		—
Pure Wellness	Hypoallergenic premium rooms	10		—		—			10		—
RED Leisure	Watersport activities and travel/transportation services	180		—		—			180		—
Lismore Capital	Debt placement services	999		—		(999		)	—		—



		Six Months Ended June 30, 2018
Company	Product or Service	Total		Investments in Hotel Properties, net ⁽¹⁾		Indebtedness, net ⁽²⁾			Other Hotel Expenses		Corporate General and Administrative
Ashford LLC	Insurance claims services	$	69	$	—	$	—		$	—	$	69
OpenKey	Mobile key app	12		—		—			12		—
Pure Wellness	Hypoallergenic premium rooms	19		—		—			19		—
RED Leisure	Watersport activities and travel/transportation services	360		—		—			360		—
Lismore Capital	Debt placement services	999		—		(999		)	—		—

________


⁽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	June 30, 2019		December 31, 2018
Ashford LLC	Advisory services	$	2,009	$	2,264
Ashford LLC	Insurance claims services	35		37
J&S Audio Visual	Audio visual services	91		—
OpenKey	Mobile key app	1		13
Premier	Project management services	1,854		1,657
Pure Wellness	Hypoallergenic premium rooms	36		30
RED Leisure	Watersports activities and travel/transportation services	4		—
		$	4,030	$	4,001

These share grants were accounted for under the applicable accounting guidance related to share-based payments granted to non-employees and are recorded as a component of “management fees” in our condensed consolidated statements of operations (in thousands).



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Management fees	$	41	$	64	$	80	$	111