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Related Party Transactions (Tables)
 9 Months Ended
Sep. 30, 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 September 30,
 
Nine Months Ended September 30,
Line Item
 
2020
 
2020
Corporate, general and administrative
 
$
228

 
$
558


The following table summarizes the advisory services fees incurred (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2020
 
2019
 
2020
 
2019
Advisory services fee
 
 
 
 
 
 
 
Base advisory fee
$
2,386

 
$
2,650

 
$
7,579

 
$
8,170

Reimbursable expenses (1)
404

 
645

 
1,360

 
1,906

Equity-based compensation (2) 
1,785

 
1,995

 
5,606

 
5,426

Incentive fee
—

 
(132
)
 
—

 
77

Total
$
4,575

 
$
5,158

 
$
14,545

 
$
15,579

________
(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.