Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2021

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

The following table summarizes the advisory services fees incurred (in thousands):

	Three Months Ended March 31,
	2021		2020
Advisory services fee
Base advisory fee	$	8,735	$	8,917
Reimbursable expenses (1)	1,591		1,831
Equity-based compensation (2)	1,835		4,551
Total advisory services fee	$	12,161	$	15,299

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(1)Reimbursable expenses include overhead, internal audit, risk management advisory and asset management services.

(2)    Equity-based compensation is associated with equity grants of Ashford Trust’s common stock, LTIP units and Performance LTIP units awarded to officers and employees of Ashford LLC.

The table below summarizes the amount Ashford Trust has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):

	Three Months Ended March 31,
Line Item	2021		2020
Corporate, general and administrative	$	19	$	698