NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) today announced that a total of $155.9 million in incentive business management fees has been earned for the 2017 calendar year from certain managed companies based upon the three year measurement periods ended December 31, 2017. Incentive business management fees, if earned, are payable annually in January following the year in which they are earned.
RMR earned $74.6 million from Hospitality Properties Trust (Nasdaq: HPT). HPT’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Hotel Index by 15.0%.
RMR earned $55.7 million from Senior Housing Properties Trust (Nasdaq: SNH). SNH’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Healthcare Index by 8.9%.
RMR earned $25.6 million from Select Income REIT (Nasdaq: SIR). SIR’s three year total return, as defined, exceeded the total return of the SNL U.S. REIT Equity Index by 9.8%.
More information concerning the calculation of the incentive business management fee can be found under the heading “Incentive Fee” in each managed company’s most recent Annual Report on Form 10-K filing, which is available on the Securities and Exchange Commission’s website located at www.sec.gov.
The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. As of September 30, 2017, The RMR Group LLC had approximately $28.5 billion of total assets under management, including more than 1,400 properties, and employed over 475 real estate professionals in more than 35 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 53,000 employees and total revenues for the 12 months ended September 30, 2017 of over $11 billion. The RMR Group Inc. is headquartered in Newton, Massachusetts.
