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 251–300 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% |
| 263,395€ |
| -7.8% |
| 11,854€ |
| 4.5% |
| 11 |
| 792€ |
| 253 | Mitrović Co02083426 · Budva | <0.1% | 261,482€ | -34.8% | -21,638€ | -8.3% | 8 | 859€ |
| 254 | Vikriant02913658 · Tuzi | <0.1% | 260,938€ | -1.0% | -4,265€ | -1.6% | 14 | 630€ |
| 255 | Peja02301075 · Mojkovac | <0.1% | 256,196€ | -4.7% | 5,566€ | 2.2% | 8 | 890€ |
| 256 | Four Views Properties03403866 · Budva | <0.1% | 253,224€ | -15.4% | 19,987€ | 7.9% | 3 | 2,083€ |
| 257 | Pavlović Am02997967 · Žabljak | <0.1% | 251,054€ | -0.2% | 8,139€ | 3.2% | 7 | 707€ |
| 258 | Msi Invest02462800 · Podgorica | <0.1% | 249,742€ | -7.2% | 3,155€ | 1.3% | 5 | 915€ |
| 259 | Vanessa Turist02111853 · Budva | <0.1% | 243,456€ | -6.8% | 25,525€ | 10.5% | 5 | 1,249€ |
| 260 | Helios Promet02054132 · Budva | <0.1% | 242,381€ | +10.7% | 38,445€ | 15.9% | 2 | 563€ |
| 261 | Mives Group03284913 · Budva | <0.1% | 241,510€ | +0.4% | 150,378€ | 62.3% | 2 | 897€ |
| 262 | Trim Line02929503 · Nikšić | <0.1% | 238,527€ | -1.6% | 3,057€ | 1.3% | 5 | 569€ |
| 263 | Turist Nova02777401 · Herceg Novi | <0.1% | 235,983€ | -2.8% | 7,089€ | 3.0% | 5 | 1,577€ |
| 264 | Adrialiga02730812 · Budva | <0.1% | 234,338€ | +70.9% | 43,437€ | 18.5% | 1 | 2,967€ |
| 265 | Milica Hostel03671909 · Podgorica | <0.1% | 231,190€ | +113.7% | 47,166€ | 20.4% | 1 | 4,448€ |
| 266 | B 1002948753 · Herceg Novi | <0.1% | 230,413€ | +5.5% | 43,399€ | 18.8% | 4 | 1,622€ |
| 267 | Zenz Global Tourism and Trade03585662 · Tivat | <0.1% | 228,906€ | +288.0% | 10,436€ | 4.6% | 1 | 6,943€ |
| 268 | Šturi02221098 · Tivat | <0.1% | 226,887€ | +19.6% | 3,717€ | 1.6% | 7 | 440€ |
| 269 | Oak Leaf Residences03168077 · Budva | <0.1% | 222,227€ | -7.9% | -59,966€ | -27.0% | 10 | 668€ |
| 270 | Eds02866846 · Kotor | <0.1% | 219,151€ | -3.9% | 8,473€ | 3.9% | 5 | 892€ |
| 271 | Izlazak02707730 · Plužine | <0.1% | 218,790€ | -5.4% | 4,470€ | 2.0% | 7 | 1,024€ |
| 272 | Tianis03107531 · Kotor | <0.1% | 200,804€ | +54.2% | -5,064€ | -2.5% | 4 | 1,459€ |
| 273 | Marvel Tourism03589293 · Kotor | <0.1% | 198,213€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -24,558€ | -12.4% | 6 | 535€ |
| 274 | M-Salatić02133326 · Herceg Novi | <0.1% | 196,259€ | -16.7% | 1,846€ | 0.9% | 9 | 643€ |
| 275 | Jakii03452263 · Budva | <0.1% | 192,962€ | -61.3% | 15,083€ | 7.8% | 6 | 1,094€ |
| 276 | Pino Company03306569 · Ulcinj | <0.1% | 190,821€ | +3.5% | 6,487€ | 3.4% | 3 | 908€ |
| 277 | Alterturs02250934 · Bar | <0.1% | 189,781€ | -16.1% | 13,735€ | 7.2% | 4 | 532€ |
| 278 | Kapri02453380 · Herceg Novi | <0.1% | 189,491€ | -18.6% | 32,592€ | 17.2% | 5 | 683€ |
| 279 | Jazz Zvono03038220 · Plužine | <0.1% | 188,869€ | +18.7% | 1,367€ | 0.7% | 7 | 717€ |
| 280 | Notre Maison03238121 · Budva | <0.1% | 188,693€ | +43.0% | 40,081€ | 21.2% | 2 | 444€ |
| 281 | Allende Mne03358682 · Budva | <0.1% | 187,695€ | +13.3% | 48,769€ | 26.0% | 3 | 1,003€ |
| 282 | Hotel Komovi03485986 · Andrijevica | <0.1% | 184,580€ | +85.4% | 8,827€ | 4.8% | 7 | 725€ |
| 283 | Plava Vila03563294 · Podgorica | <0.1% | 182,529€ | +83.3% | -22,546€ | -12.4% | 4 | 1,172€ |
| 284 | Pupa03125033 · Kotor | <0.1% | 182,451€ | +6.8% | 8,432€ | 4.6% | 3 | 1,051€ |
| 285 | Katana Lux03170128 · Ulcinj | <0.1% | 181,876€ | +17.3% | 81,649€ | 44.9% | 4 | 838€ |
| 286 | Monte C03495990 · Tivat | <0.1% | 176,062€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -989,097€ | -561.8% | 22 | 2,703€ |
| 287 | Novi Svet03579492 · Kotor | <0.1% | 176,051€ | +30.9% | -33,486€ | -19.0% | 3 | 991€ |
| 288 | Het Anker03398315 · Kotor | <0.1% | 175,322€ | +30.6% | 602€ | 0.3% | 4 | 1,051€ |
| 289 | Elite03360814 · Berane | <0.1% | 175,119€ | +2.0% | -1,702€ | -1.0% | 3 | 565€ |
| 290 | Adria4ever03246841 · Bar | <0.1% | 174,898€ | -3.7% | 139€ | 0.1% | 8 | 834€ |
| 291 | Aren Group Mne03648460 · Bar | <0.1% | 174,546€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -53,175€ | -30.5% | 4 | 1,705€ |
| 292 | Sanes03086640 · Ulcinj | <0.1% | 173,838€ | -2.5% | -10,447€ | -6.0% | 5 | 1,095€ |
| 293 | Kula02676095 · Plav | <0.1% | 173,527€ | +1.3% | 31,419€ | 18.1% | 3 | 481€ |
| 294 | Pirlanta03074803 · Bar | <0.1% | 171,122€ | +5.2% | -4,917€ | -2.9% | 8 | 787€ |
| 295 | Provide03318648 · Budva | <0.1% | 170,479€ | +564.1% | 18,757€ | 11.0% | 5 | 559€ |
| 296 | Hon One03731111 · Kotor | <0.1% | 169,783€ | No filing for 2024. | -291,705€ | -171.8% | 6 | 2,067€ |
| 297 | Rudi-Impex02147831 · Bijelo Polje | <0.1% | 166,684€ | -8.1% | -36,502€ | -21.9% | 10 | 806€ |
| 298 | Puf02700417 · Budva | <0.1% | 160,886€ | -46.4% | 1,186€ | 0.7% | 7 | 797€ |
| 299 | Hotel Padam & Spa03170756 · Ulcinj | <0.1% | 160,316€ | +50.1% | 1,267€ | 0.8% | 5 | 705€ |
| 300 | Sara BG03268349 · Kotor | <0.1% | 160,164€ | -2.7% | -3,418€ | -2.1% | 3 | 671€ |