v3.25.1
Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2025
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,
20252024
Advisory services fee
Base advisory fee$3,576 $3,327 
Reimbursable expenses (1)
3,001 2,265 
Equity-based compensation (2)
(48)1,108 
Incentive fee82 — 
Total$6,611 $6,700 
________
(1)Reimbursable expenses include overhead, internal audit, risk management advisory, asset management services and deferred cash awards.
(2)    Equity-based compensation is associated with equity grants of Braemar’s common stock, PSUs, LTIP units and Performance LTIP units awarded to officers and employees of Ashford LLC.
The table below summarizes the amount Braemar has expensed related to reimbursed operating expenses of Ashford Securities (in thousands):
Three Months Ended March 31,
Line Item20252024
Corporate, general and administrative$— $(5,624)