Related Party & Nonrelated Party was Rmr’s largest revenue line in fiscal 2025, bringing in $193.42M of $700.28M (28%).
| Related and Nonrelated Parties | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Opi | $350.34M | $372.37M | $241.96M | $24.04M | |
| Related Party & Nonrelated Party | — | — | — | $193.42M | |
| Related Party | — | — | — | $182.70M | |
| Managed Public Real Estate Capital | — | — | — | $128.98M | |
| Total Managed Equity Reits | — | — | — | — | |
| Dhc | $188.11M | $179.90M | $151.64M | $22.97M | |
| Svc | $112.04M | $157.96M | $280.52M | $39.82M | |
| Private Capital: | — | — | $136.28M | $53.73M | |
| Ilpt | $64.95M | $77.27M | $72.47M | — | |
| Other Private Entities | $74.42M | $90.41M | — | $21.17M | |
| Ta | $17.99M | $58.69M | — | — | |
| Rmr Residential | — | — | — | $17.52M | |
| Sevn | $10.22M | $10.05M | $11.83M | $5.21M | |
| Sonesta | $9.12M | $10.02M | — | — | |
| Alerislife | $5.22M | $5.51M | — | — | |
| Total Revenues From Unrelated Parties | — | — | $2.92M | $10.72M | |
| Revenues From Unrelated Parties | — | — | — | — | |
| Trmt | — | — | — | — | |
| Total | $832.40M | $962.19M | $897.61M | $700.28M |
Rmr brought in $700.28M from its 11 revenue lines in fiscal 2025, the year ended September 30, 2025. Rmr regrouped these revenue lines after fiscal 2024, so the total does not compare directly with that year's $897.61M. Related Party & Nonrelated Party was the largest at $193.42M (27.6%), ahead of Related Party at $182.70M (26.1%) and Managed Public Real Estate Capital at $128.98M (18.4%). The other eight revenue lines brought in $195.18M combined.
Compared with fiscal 2024, every revenue line above 2% of revenue shrank. Private Capital: held up best, down 60.6% to $53.73M, and Opi fell the most, down 90.1% to $24.04M.
Rmr began breaking out Related Party & Nonrelated Party in fiscal 2025, Private Capital: in fiscal 2024, Rmr Residential in fiscal 2025 and Total Revenues From Unrelated Parties in fiscal 2024. Rmr stopped reporting Ilpt ($72.47M in fiscal 2024), Ta ($58.69M in fiscal 2023), Sonesta ($10.02M in fiscal 2023) and one other as separate revenue lines.
Other Reimbursable Expenses was Rmr’s largest product and service line in fiscal 2021, bringing in $370.04M of $607.24M (61%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|---|---|---|
| Other Reimbursable Expenses | — | $354.54M | $360.57M | $370.04M | ||
| Management Services | $191.59M | $178.08M | $168.77M | $171.10M | ||
| Incentive Business Management Fees | $155.88M | $120.09M | — | — | ||
| Reimbursable Compensation & Benefits | — | $51.03M | $52.34M | $52.37M | ||
| Total Reimbursable Costs | $53.15M | — | — | — | ||
| Reimbursable Payroll Related & Other Costs | — | — | — | — | ||
| Reimbursable Equity Based Compensation | — | $6.46M | $4.91M | $9.15M | ||
| Advisory Services | $4.35M | $3.17M | $2.91M | $3.96M | ||
| Termination & Incentive Business Management Fees | — | — | — | $620.00K | ||
| Total | $404.98M | $713.37M | $589.51M | $607.24M |
Rmr brought in $607.24M from its six product and service lines in fiscal 2021, the year ended September 30, 2021. Rmr regrouped these lines after fiscal 2020, so the total does not compare directly with that year's $589.51M. Other Reimbursable Expenses was the largest at $370.04M (60.9%), ahead of Management Services at $171.10M (28.2%) and Reimbursable Compensation & Benefits at $52.37M (8.6%). The other three lines brought in $13.73M combined.
Compared with fiscal 2020, Other Reimbursable Expenses grew fastest, up 2.6% to $370.04M. Every line above 2% of revenue grew.
Rmr began breaking out Other Reimbursable Expenses in fiscal 2019, Reimbursable Compensation & Benefits in fiscal 2019, Reimbursable Equity Based Compensation in fiscal 2019 and Termination & Incentive Business Management Fees in fiscal 2021. Rmr stopped reporting Incentive Business Management Fees ($120.09M in fiscal 2019) and Total Reimbursable Costs ($53.15M in fiscal 2018) as separate lines.
Rmr Llc was Rmr’s largest segment in fiscal 2021, bringing in $600.16M of $607.24M (99%).
| Segment | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 |
|---|---|---|---|---|---|---|---|---|
| Rmr Llc | $397.08M | $707.33M | $584.17M | $600.16M | ||||
| All Other Operations | $7.90M | $6.04M | $5.34M | $7.08M | ||||
| Total | $404.98M | $713.37M | $589.51M | $607.24M |
Rmr brought in $607.24M from its two segments in fiscal 2021, the year ended September 30, 2021. That was up 3.0% from $589.51M in fiscal 2020. Rmr Llc was the largest at $600.16M (98.8%), ahead of All Other Operations at $7.08M (1.2%).
From fiscal 2018 to 2021, combined revenue from these segments grew from $404.98M to $607.24M, a compound annual growth rate of 14.5%. Rmr Llc's share of the total rose from 98.1% to 98.8%.
Rmr (RMR) reports its revenue by related and nonrelated parties, by product and service and by segment. In fiscal 2025, Related Party & Nonrelated Party was its largest revenue line, bringing in $193.42M (27.6% of the total), followed by Related Party at $182.70M (26.1%).
Related Party & Nonrelated Party was Rmr's largest revenue line in fiscal 2025, bringing in $193.42M, or 27.6% of the $700.28M total across its 11 revenue lines.
Other Reimbursable Expenses was Rmr's largest product and service line in fiscal 2021, bringing in $370.04M, or 60.9% of the $607.24M total across its six product and service lines.
Rmr Llc was Rmr's largest segment in fiscal 2021, bringing in $600.16M, or 98.8% of the $607.24M total across its two segments.
Every figure comes from Rmr's annual financial filings, as reported. Each line keeps the name Rmr gives it, and years follow its fiscal calendar.
Rmr's revenue by related and nonrelated parties goes back to fiscal 2021, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.