Revenue
53.6% of sector revenue
795 companies earned 686.98m€ in 2025, 53.6% of Hospitality sector revenue. Revenue has grown 3.8× since 2015.
53.6% of sector revenue
323 with at most one employee
Largest employer: Budvanska Rivijera (600)
Median company 1.7% · 41% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 551–600 of 795
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Profit excludes 4 filings with an implausible profit.
Totals include 9 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 179,567,207€ | 353 |
| 2016 | 189,370,214€ | 394 |
| 2017 | 248,134,234€ | 448 |
| 2018 | 301,577,349€ | 510 |
| 2019 | 352,087,096€ | 555 |
| 2020 | 132,075,520€ | 607 |
| 2021 | 297,671,376€ | 614 |
| 2022 | 436,695,881€ | 674 |
| 2023 | 551,217,902€ | 759 |
| 2024 | 657,050,002€ | 818 |
| 2025 (Preliminary) | 686,980,137€ | 795 |
Employees and payroll cost per employee per month*
<0.1% |
| 436€ |
| -93.0% |
| -25,485€ |
| Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. |
| 4 |
| 533€ |
| 553 | Arel Tourism Trade03264653 · Budva | <0.1% | 402€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -1,634€ | -406.5% | 1 | — |
| 554 | Centelux - Montenegro02427893 · Budva | <0.1% | 350€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,628€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 677€ |
| 555 | Dream House Club03611485 · Budva | <0.1% | 269€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -15,933€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 2 | 675€ |
| 556 | Europe - Travel02055775 · Budva | <0.1% | 247€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -21,349€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 1,085€ |
| 557 | Adriatic Dobrota Properties03800024 · Podgorica | <0.1% | 153€ | No filing for 2024. | 0€ | 0.0% | 1 | — |
| 558 | White Mountain02434067 · Kotor | <0.1% | 101€ | -99.9% | -21,826€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 3 | 563€ |
| 559 | Idm Endeavors03422313 · Tivat | <0.1% | 63€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -56,892€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 2 | — |
| 560 | Phoenix Co03072908 · Budva | <0.1% | 56€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -28,679€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 808€ |
| 561 | Unity Brothers Investments03641597 · Podgorica | <0.1% | 16€ | +60.0% | -9,652€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 336€ |
| 562 | Hermitage Holdings03679390 · Tivat | <0.1% | 5€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -128,755€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 1,112€ |
| 563 | Borus Company03287629 · Budva | <0.1% | 3€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,041€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | — |
| 564 | Kuljače Investment03126994 · Podgorica | <0.1% | 3€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -579,991€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 4,736€ |
| 565 | Fitorja J&E03501159 · Ulcinj | <0.1% | 1€ | 0.0% | 0€ | 0.0% | 1 | — |
| 566 | Ocean Trade03524272 · Budva | <0.1% | 1€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,900€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 728€ |
| 567 | 12 Mjeseci02741938 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -58,519€ | — | 4 | 698€ |
| 568 | 4. Oktobar03383393 · Plužine | 0.0% | 0€ | -100.0% | -2,492€ | — | 1 | — |
| 569 | Adelaide - Montenegro02427885 · Budva | 0.0% | 0€ | -100.0% | -12,123€ | — | 1 | 677€ |
| 570 | Ademir03244946 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,011€ | — | 1 | 678€ |
| 571 | Armas03287904 · Budva | 0.0% | 0€ | -100.0% | -9,723€ | — | 1 | 630€ |
| 572 | Arya Monte Company03709752 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -90,408€ | — | 3 | 1,567€ |
| 573 | Assa Travel03748324 · Budva | 0.0% | 0€ | No filing for 2024. | -9,495€ | — | 1 | 788€ |
| 574 | Astor03165981 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -24,968€ | — | 1 | 422€ |
| 575 | Bella Vita Mne03609138 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,139€ | — | 1 | 675€ |
| 576 | Bengisu Group Company03724662 · Budva | 0.0% | 0€ | No filing for 2024. | -4,577€ | — | 0 | — |
| 577 | Berke Turizam03716287 · Budva | 0.0% | 0€ | No filing for 2024. | -11,993€ | — | 1 | 928€ |
| 578 | Bir-Ol World03723984 · Budva | 0.0% | 0€ | No filing for 2024. | -6,844€ | — | 1 | 570€ |
| 579 | Black Eagle Group Company03810178 · Budva | 0.0% | 0€ | No filing for 2024. | -1€ | — | 1 | — |
| 580 | BNP Company03152090 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,138€ | — | 1 | 678€ |
| 581 | Bonibo02823187 · Nikšić | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -19,755€ | — | 1 | 533€ |
| 582 | Company Hasanagic03273814 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,154€ | — | 1 | 679€ |
| 583 | Deka Mne03603261 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,369€ | — | 1 | 675€ |
| 584 | Destination of Me03161579 · Budva | 0.0% | 0€ | -100.0% | -8,187€ | — | 0 | — |
| 585 | DHD Group03044947 · Rožaje | 0.0% | 0€ | -100.0% | 0€ | — | — | — |
| 586 | DL Montenegro02620138 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -66,885€ | — | 1 | 790€ |
| 587 | Absts.03457290 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,258€ | — | 1 | 929€ |
| 588 | Aksoylu Investment03754537 · Podgorica | 0.0% | 0€ | No filing for 2024. | -15,611€ | — | 0 | — |
| 589 | Algosolutions Mne03318834 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,156€ | — | 1 | 670€ |
| 590 | Alps Group03535592 · Budva | 0.0% | 0€ | -100.0% | -8,143€ | — | 1 | 670€ |
| 591 | Altea Hotels03467384 · Ulcinj | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,272€ | — | 1 | 678€ |
| 592 | Amaya03686558 · Kotor | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,201€ | — | 1 | 1,082€ |
| 593 | Apertura Group Company03689247 · Tivat | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,616€ | — | 2 | 674€ |
| 594 | Arish Capital Montenegro03305996 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -32,660€ | — | 0 | — |
| 595 | Asb Group03655164 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -14,448€ | — | 2 | 597€ |
| 596 | Athena Group03670473 · Danilovgrad | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -20,985€ | — | 1 | 509€ |
| 597 | A Travel FLY-Venus Travel03298493 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,046€ | — | 1 | — |
| 598 | Auto Fix Otomotiv03202615 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,153€ | — | 1 | 335€ |
| 599 | Bglnetwork03563316 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,025€ | — | 1 | — |
| 600 | Biochem03527662 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,308€ | — | 1 | 684€ |