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v3.23.3

Related Party Transactions (Tables) | 9 Months Ended
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Sep. 30, 2023
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table summarizes the advisory services fees incurred (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |
Advisory services fee |  |  |  |  |  |  |  |  |  |
Base advisory fee | $ | 3,393 |  |  | $ | 3,269 |  |  | $ | 10,700 |  |  | $ | 9,434 |  |  |  |
Reimbursable expenses (1) | 2,028 |  |  | 1,191 |  |  | 6,092 |  |  | 3,460 |  |  |  |
Equity-based compensation (2) | 1,599 |  |  | 3,346 |  |  | 6,391 |  |  | 8,293 |  |  |  |
Incentive fee | — |  |  | 1,048 |  |  | — |  |  | 1,294 |  |  |  |
Total | $ | 7,020 |  |  | $ | 8,854 |  |  | $ | 23,183 |  |  | $ | 22,481 |  |  |  |
________ (1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards. (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 September 30, |  | Nine Months Ended September 30,
Line Item |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Corporate, general and administrative |  | $ | 921 |  |  | $ | 5,520 |  |  | $ | 3,140 |  |  | $ | 6,711 |  |  |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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