The RMR Group Inc.
rmrgroup.comWhat Do They Do?
Manages real estate investments and properties for publicly traded real estate trusts, hotel and senior-living operators, and private real estate clients.
10-K for FY2025, filed Nov 12, 2025As manager of the Managed Equity REITs, we are responsible for implementing investment strategies and managing day-to-day operations…View ↗
RMR LLC provides management services to Sonesta International Hotels Corporation, or Sonesta, a privately owned franchisor and operator of…View ↗
On December 19, 2023, or the MPC Acquisition Date, RMR LLC acquired MPC Partnership Holdings LLC, or MPC, or the MPC Acquisition. In…View ↗
In addition, RMR LLC provides management services to private capital vehicles including ABP Trust and other private entities that own…View ↗
How Do They Make Money?
Management services are the main revenue source: clients pay monthly fees for ongoing management, generally based on assets, rents or invested capital; construction supervision and performance fees add other payments.
10-K for FY2025, filed Nov 12, 2025The foregoing base business management fees are paid in cash monthly in arrears.View ↗
We earn management fees by providing continuous services pursuant to the management agreements with ABP Trust regarding AlerisLife, with…View ↗
We also earn management fees from certain other Private Capital clients based on a percentage of average invested capital, as defined in…View ↗
We earn property management fees by providing continuous services pursuant to property management agreements with the Managed Equity REITs…View ↗
Incentive Business Management Fees — We also may earn annual incentive business management fees from the Managed Equity REITs under the…View ↗
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10-K for FY2025, filed Nov 12, 2025
FY2025 revenue by product or service ↗
$700.3M
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10-K for FY2025, filed Nov 12, 2025
$700.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Management services
Recurring
10-K for FY2025, filed Nov 12, 2025 |
97%
FY2022: 98%
|
Management services, FY2025
$177.6M Sources
|
Recurring |
|
Termination and incentive fees
|
0.4%
FY2022: 0.0%
|
Termination and incentive fees, FY2025
$653K Sources
|
|
|
Advisory services
Recurring
10-K for FY2025, filed Nov 12, 2025 |
2.5%
FY2022: 2.3%
|
Advisory services, FY2025
$4.5M Sources
|
Recurring |
Who Are Their Customers?
RMR contracts directly with publicly traded real estate trusts and private real estate clients, and provides management services to hotel and senior-living operators.
10-K for FY2025, filed Nov 12, 2025We provide management services to four publicly traded equity real estate investment trusts, or REITs, three of whose securities are listed…View ↗
RMR LLC provides management services to Sonesta International Hotels Corporation, or Sonesta, a privately owned franchisor and operator of…View ↗
RMR LLC also provides management services to AlerisLife Inc., or AlerisLife, an owner and operator of senior living communities, many of…View ↗
On December 19, 2023, or the MPC Acquisition Date, RMR LLC acquired MPC Partnership Holdings LLC, or MPC, or the MPC Acquisition. In…View ↗
In addition, RMR LLC provides management services to private capital vehicles including ABP Trust and other private entities that own…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Nov 12, 2025
How Are They Changing?
10-Q for Q3 FY2026, filed Aug 5, 2026
Open tableView ↗
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Jun 23, 2026
OPI emerged from bankruptcy and signed amended management agreements
The new agreements set a five-year initial term, fees for business and property management, and potential equity awards for RMR.
Sources
8-K, filed Jun 23, 2026
On June 17, 2026 (the “Effective Date”), the Plan became effective, and OPI emerged from chapter 11 protection. On the Effective Date, RMR…View ↗
Growing. Revenue grew 15% in 4 years, from $607.2M in FY2021 to $700.3M in FY2025, about 4% a year.
Residential property management
The latest report describes managing private funds and their residential properties through an acquired business; the older report lists publicly traded trusts, operating companies and private commercial-property vehicles as clients.
10-K for FY2022, filed Nov 14, 2022 10-K for FY2025, filed Nov 12, 2025Our business primarily consists of providing management services to four publicly traded equity real estate investment trusts, or REITs…View ↗
We also provide management services to the Managed Operating Companies that have diverse businesses as follows:View ↗
In addition, RMR LLC provides management services to private capital vehicles, including ABP Trust and its subsidiaries, or collectively…View ↗
On December 19, 2023, or the MPC Acquisition Date, RMR LLC acquired MPC Partnership Holdings LLC, or MPC, or the MPC Acquisition. In…View ↗
Travel-center services ended
The older report lists TravelCenters of America as a managed operating company; the latest says management services ended after its acquisition by BP.
10-K for FY2022, filed Nov 14, 2022 10-K for FY2025, filed Nov 12, 2025RMR LLC also provided management services to TravelCenters of America Inc., or TA, until it was acquired by BP Products North America Inc.…View ↗
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