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Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
 
 
Three Months Ended March 31,
Line Item
 
2020
 
2019
Corporate, general and administrative
 
$
233

 
$
—

The following table summarizes the advisory services fees incurred (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Advisory services fee
 
 
 
Base advisory fee
$
2,621

 
$
2,660

Reimbursable expenses (1)
544

 
580

Equity-based compensation (2) 
1,904

 
1,470

Incentive fee
—

 
1,314

Total
$
5,069

 
$
6,024

________
(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.