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Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2024
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,
2024202320242023
Advisory services fee
Base advisory fee$3,336 $3,667 $6,663 $7,307 
Reimbursable expenses (1)
2,961 2,042 5,226 4,064 
Equity-based compensation (2)
883 2,506 1,991 4,792 
Incentive fee648 — 648 — 
Total$7,828 $8,215 $14,528 $16,163 
________
(1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards.
(2)    Equity-based compensation is associated with equity grants of Braemar’s common stock, PSUs, LTIP units and Performance LTIP units awarded to officers and employees of Ashford LLC.
The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Line Item2024202320242023
Corporate, general and administrative$— $1,024 $(5,624)$2,219