Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table summarizes the advisory services fees incurred (in thousands):
Year Ended December 31,
202120202019
Advisory services fee
Base advisory fee$10,806 $9,981 $10,834 
Reimbursable expenses (1)
2,297 1,790 2,289 
Equity-based compensation (2)
9,538 7,393 7,404 
Incentive fee (3)
— (678)— 
Total$22,641 $18,486 $20,527 
________
(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.
(3)    The $(678,000) incentive fee in 2020 is a result of not meeting the FCCR threshold required for paying the final installment of the incentive fee incurred in 2018.
The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
Year Ended December 31,
Line Item202120202019
Corporate, general and administrative$1,983 $658 $314 
The following table presents the fees related to our hotel and design and construction services agreements with Remington Lodging prior to its transactions with Ashford Inc. (in thousands):
Year Ended December 31,
2019
Hotel management fees, including incentive hotel management fees$1,738 
Corporate general and administrative297 
Total$2,035 
The following tables summarize the entities in which our advisor has an interest with which we or our hotel properties contracted for products and services, the amounts recorded by us for those services and the applicable classification on our consolidated financial statements (in thousands):
Year Ended December 31, 2021
CompanyProduct or ServiceTotal
Investments in Hotel Properties, net (1)
Indebtedness, net (2)
Other AssetsOther Hotel RevenueOther Hotel Expenses
Preferred Stock (3)
Management feesProperty Taxes, Insurance and OtherAdvisory Services FeeCorporate General and AdministrativeWrite-off of Premiums, Loan Costs and Exit Fees
Ashford LLCInsurance claims services$7 $— $— $— $— $— $— $— $7 $— $— $— 
Ashford SecuritiesBroker/Dealer1,983 — — — — — — — — — 1,983 — 
Ashford SecuritiesDealer Manager Fees410 — — — — — 410 — — — — — 
INSPIREAudio visual services1,001 — — — 1,001 — — — — — — — 
Lismore CapitalDebt placement and related services491 — 150 — — — — — — — — 341 
Lismore CapitalBroker services3 — — — — — — — — — — 3 
OpenKeyMobile key app38 — — — — 38 — — — — — — 
PremierDesign and construction services3,009 2,653 — — — — — — — 356 — — 
Pure WellnessHypoallergenic premium rooms141 — — — — 141 — — — — — — 
RED LeisureWatersports activities and travel/transportation services321 — — — 321 — — — — — — — 
Remington Hotels
Hotel management services (4)
3,243 — — — — 934 — 2,309 — — — — 
Year Ended December 31, 2020
CompanyProduct or ServiceTotal
Investments in Hotel Properties, net (1)
Other AssetsOther Hotel RevenueOther Hotel ExpensesManagement feesProperty Taxes, Insurance and OtherAdvisory Services FeeWrite-off of Premiums, Loan Costs and Exit Fees
Ashford LLCFF&E purchases $1,816 $1,816 $— $— $— $— $— $— $— 
Ashford LLCInsurance claims services108 — — — — — 108 — — 
INSPIREAudio visual services592 — — 592 — — — — — 
Lismore CapitalDebt placement and related services4,093 — 1,022 — — — — — 3,071 
OpenKeyMobile key app38 — — — 38 — — — — 
PremierDesign and construction services2,849 2,505 — — — — — 344 — 
Pure WellnessHypoallergenic premium rooms52 — — — 52 — — — — 
RED LeisureWatersports activities and travel/transportation services139 — — 139 — — — — — 
Remington Hotels
Hotel management services (4)
1,446 — — — 410 1,036 — — — 
Year Ended December 31, 2019
CompanyProduct or ServiceTotal
Investments in Hotel Properties, net (1)
Indebtedness, net (2)
Other Hotel RevenueOther Hotel ExpensesManagement feesProperty Taxes, Insurance and OtherAdvisory Services FeeCorporate General and AdministrativeWrite-off of Premiums, Loan Costs and Exit Fees
Ashford LLCInsurance claims services$135 $— $— $— $— $— $135 $— $— $— 
INSPIREAudio visual services560 — — 560 — — — — — — 
Lismore CapitalDebt placement and related services1,208 — (995)— — — — — — 213 
OpenKeyMobile key app34 — — — 34 — — — — — 
PremierDesign and construction services10,123 9,584 — — — — — 539 — — 
Pure WellnessHypoallergenic premium rooms194 148 — — 46 — — — — — 
RED LeisureWatersports activities and travel/transportation services946 — — — 946 — — — — — 
Remington Hotels
Hotel management services (4)
572 — — — 323 249 — — — — 
________
(1)Recorded in FF&E and depreciated over the estimated useful life.
(2)Recorded as deferred loan costs, which are included in “indebtedness, net” on our consolidated balance sheets and amortized over the initial term of the applicable loan agreement.
(3)Recorded as a reduction of Series E and Series M Redeemable Preferred Stock proceeds.
(4)Other hotel expenses include incentive hotel management fees and other hotel management costs.
The following table summarizes the components of due to Ashford Inc. (in thousands):
Due to Ashford Inc.
CompanyProduct or ServiceDecember 31, 2021December 31, 2020
Ashford LLCAdvisory services$394 $165 
Ashford LLCFF&E purchases— 1,816 
Ashford LLCInsurance claims services1 12 
INSPIREAudio visual services418 1 
OpenKeyMobile key app— 3 
PremierDesign and construction services470 631 
RED LeisureWatersports activities and travel/transportation services191 144 
$1,474 $2,772