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Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the advisory services fees incurred (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Advisory services fee
Base advisory fee$2,678 $2,572 $5,223 $5,193 
Reimbursable expenses (1)
510 412 1,002 956 
Equity-based compensation (2)
2,285 1,917 3,672 3,821 
Incentive fee 1,266 — 1,637 — 
Total$6,739 $4,901 $11,534 $9,970 
________
(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.
The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Line Item2021202020212020
Corporate, general and administrative$523 $97 $863 $330