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 601–650 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*
0.0% |
| 0€ |
| No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. |
| -2,036€ |
| — |
| 1 |
| — |
| 603 | Blue Living03801691 · Budva | 0.0% | 0€ | No filing for 2024. | -974€ | — | 1 | — |
| 604 | Bofima03805735 · Kotor | 0.0% | 0€ | No filing for 2024. | -2,431€ | — | 1 | — |
| 605 | Bold Ventures03662179 · Kolašin | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -33,274€ | — | 1 | 678€ |
| 606 | Cakar03797244 · Podgorica | 0.0% | 0€ | No filing for 2024. | -923€ | — | 1 | — |
| 607 | Crestwood Resort & Spa03247724 · Podgorica | 0.0% | 0€ | -100.0% | -14,909€ | — | 1 | — |
| 608 | Čukovići03155676 · Budva | 0.0% | 0€ | -100.0% | -2,379€ | — | 1 | — |
| 609 | Delovie Ludy03378195 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,036€ | — | 1 | — |
| 610 | Demirdag Investment03664287 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,143€ | — | 1 | 916€ |
| 611 | Diceinvest03112373 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,189€ | — | 1 | 929€ |
| 612 | DKK Invest03680371 · Ulcinj | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -6,789€ | — | 1 | 547€ |
| 613 | Doga’l03588807 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,143€ | — | 1 | 670€ |
| 614 | Eco Village03083985 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,452€ | — | 1 | 678€ |
| 615 | El Miracle03437191 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,598€ | — | 1 | 916€ |
| 616 | Enjoyit.Mne03471098 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,244€ | — | 1 | 927€ |
| 617 | Erdurogullari03580717 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,139€ | — | 1 | 675€ |
| 618 | Euro-Sem02680939 · Rožaje | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,025€ | — | 1 | — |
| 619 | Farmland Hotel and Resort03353168 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,781€ | — | 1 | 528€ |
| 620 | Ferromer03268934 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,036€ | — | 1 | — |
| 621 | Frame Properties03768112 · Herceg Novi | 0.0% | 0€ | No filing for 2024. | -8,277€ | — | 1 | 486€ |
| 622 | General Mineral03693252 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -14,703€ | — | 1 | 1,105€ |
| 623 | Golden View Sat03295125 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -37,189€ | — | 1 | 432€ |
| 624 | Green Medicine03619524 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,054€ | — | 1 | 670€ |
| 625 | Greenville02469162 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,965€ | — | 1 | 653€ |
| 626 | Healthy Time03547507 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,143€ | — | 1 | 670€ |
| 627 | HGM Management03445577 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -758€ | — | — | — |
| 628 | Hosk03582094 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,219€ | — | 1 | 675€ |
| 629 | Hospitality Comrades03399621 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -6,446€ | — | 1 | 480€ |
| 630 | Hotel Minka-Plavsko Jezero03106217 · Plav | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -62,970€ | — | 3 | 759€ |
| 631 | Hotel Sidro02784998 · Bar | 0.0% | 0€ | -100.0% | -101,178€ | — | 2 | 2,320€ |
| 632 | Hotelski Menadžment Mne03700267 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,998€ | — | 1 | 667€ |
| 633 | Il Mare Mne03668746 · Budva | 0.0% | 0€ | -100.0% | 0€ | — | — | — |
| 634 | Jovan Consulting03700933 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -26,186€ | — | 1 | 676€ |
| 635 | Kartinin Tech03492141 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,300€ | — | 2 | 675€ |
| 636 | KC Organization03630382 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 0€ | — | — | — |
| 637 | Kelberg Park03228754 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,470€ | — | 1 | 339€ |
| 638 | Kulla E Balshajve03067475 · Ulcinj | 0.0% | 0€ | -100.0% | -4,688€ | — | 1 | — |
| 639 | Lagoon03679152 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,582€ | — | 1 | 674€ |
| 640 | Lapčići View03487555 · Budva | 0.0% | 0€ | -100.0% | -22,934€ | — | 1 | 304€ |
| 641 | Lena Montenegrina03577171 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,087€ | — | 1 | 673€ |
| 642 | Life Online03329780 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,811€ | — | 2 | 670€ |
| 643 | Ližni Klub Nasedkina02880377 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,978€ | — | 1 | 603€ |
| 644 | Marzipan03367380 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,036€ | — | 1 | — |
| 645 | Merak Estate03537218 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,012€ | — | 1 | — |
| 646 | Mer Company03497313 · Budva | 0.0% | 0€ | -100.0% | -36,675€ | — | 9 | — |
| 647 | Mine Emlak03301249 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,802€ | — | 1 | 670€ |
| 648 | Monte Azure03692574 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -219,452€ | — | 1 | 788€ |
| 649 | Monteideal03248640 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,036€ | — | 1 | — |
| 650 | Montenegro Investment02964147 · Bar | 0.0% | 0€ | -100.0% | -2,737€ | — | 1 | — |