v3.26.3
Related Party Transactions (Tables)
 9 Months Ended
Sep. 30, 2026
Related Party Transactions [Abstract]  
Schedule of Advisory Services Fee Incurred and Reimbursed Operating Expenses
The following table summarizes the advisory services fees incurred (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Advisory services fee
Base advisory fee$4,030 $3,539 $11,587 $10,592 
Reimbursable expenses (1)
3,468 3,825 10,595 10,403 
Equity-based compensation (2)
— 75 — (24)
Incentive fee— 476 — 746 
Total$7,498 $7,915 $22,182 $21,717 
________
(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 Item2026202520262025
Corporate general and administrative
$— $— $435 $—