Revenue
36.1% of sector revenue
1,822 companies earned 462.55m€ in 2025, 36.1% of Hospitality sector revenue. Revenue has grown 6.0× since 2015.
36.1% of sector revenue
551 with at most one employee
Largest employer: Panevivo (286)
Median company 1.1% · 45% 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 451–500 of 1,822
* 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 →
Totals include 174 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 | 76,589,621€ | 661 |
| 2016 | 90,691,225€ | 770 |
| 2017 | 110,033,852€ | 886 |
| 2018 | 117,046,919€ | 1,003 |
| 2019 | 139,481,699€ | 1,111 |
| 2020 | 87,527,626€ | 1,217 |
| 2021 | 178,116,236€ | 1,326 |
| 2022 | 278,132,866€ | 1,495 |
| 2023 | 365,111,481€ | 1,723 |
| 2024 | 406,911,791€ | 1,840 |
| 2025 (Preliminary) | 462,546,922€ | 1,822 |
Employees and payroll cost per employee per month*
<0.1% |
| 254,400€ |
| +37.3% |
| 3,183€ |
| 1.3% |
| 6 |
| 1,402€ |
| 453 | Napolitana03634744 · Podgorica | <0.1% | 253,976€ | +42.6% | -44,589€ | -17.6% | 6 | 1,043€ |
| 454 | Krsto02413329 · Herceg Novi | <0.1% | 253,770€ | +17.5% | 11,090€ | 4.4% | 7 | 979€ |
| 455 | HD Gastroli03211967 · Bijelo Polje | <0.1% | 252,900€ | -0.8% | 4,592€ | 1.8% | 10 | 762€ |
| 456 | Anderba B&V02732297 · Herceg Novi | <0.1% | 252,731€ | +22.3% | 27,359€ | 10.8% | 5 | 1,121€ |
| 457 | Vrgola03187756 · Herceg Novi | <0.1% | 250,645€ | +37.4% | -7,187€ | -2.9% | 10 | 1,198€ |
| 458 | Dobrota Company Mne03538265 · Kotor | <0.1% | 248,848€ | +15.3% | 6,681€ | 2.7% | 7 | 612€ |
| 459 | M 2203488888 · Herceg Novi | <0.1% | 248,260€ | +9.0% | 681€ | 0.3% | 10 | 897€ |
| 460 | Šehaj Company02802775 · Podgorica | <0.1% | 247,856€ | +14.9% | 7,654€ | 3.1% | 7 | 813€ |
| 461 | Nikoss Perišić02698803 · Herceg Novi | <0.1% | 247,817€ | +13.0% | 34,883€ | 14.1% | 5 | 822€ |
| 462 | Dva Domaćina03530337 · Podgorica | <0.1% | 247,532€ | +21.5% | 13,232€ | 5.3% | 4 | 673€ |
| 463 | Evropa Beach02459515 · Ulcinj | <0.1% | 245,387€ | +13.0% | -21,779€ | -8.9% | 5 | 795€ |
| 464 | Nasdve03118398 · Kotor | <0.1% | 244,181€ | -33.8% | -130,226€ | -53.3% | 5 | 1,527€ |
| 465 | Matoni03636429 · Bar | <0.1% | 243,451€ | +9.3% | 45,690€ | 18.8% | 3 | 1,410€ |
| 466 | Insomnia Group02777851 · Bar | <0.1% | 243,410€ | -0.7% | 9,651€ | 4.0% | 6 | 603€ |
| 467 | Pic-Nic02920620 · Herceg Novi | <0.1% | 241,891€ | -3.8% | -15,223€ | -6.3% | 15 | 683€ |
| 468 | Az Trade03340287 · Bar | <0.1% | 240,495€ | +47.9% | 39,520€ | 16.4% | 3 | 2,069€ |
| 469 | V.S. Systems02332230 · Bar | <0.1% | 240,412€ | +32.6% | 19,454€ | 8.1% | 6 | 1,293€ |
| 470 | 12. Jul02714108 · Bar | <0.1% | 240,102€ | +34.5% | 17,351€ | 7.2% | 6 | 697€ |
| 471 | Pasaž Montenegro03123600 · Nikšić | <0.1% | 239,833€ | +27.4% | 18,170€ | 7.6% | 6 | 860€ |
| 472 | Tropicana 202928523 · Budva | <0.1% | 239,675€ | +20.6% | -5,035€ | -2.1% | 5 | 815€ |
| 473 | N V03039030 · Budva | <0.1% | 238,645€ | -26.8% | 13,932€ | 5.8% | 6 | 694€ |
| 474 | Pirates03000923 · Budva | <0.1% | 238,040€ | -22.9% | -14,850€ | -6.2% | 9 | 779€ |
| 475 | Matijašević Copas02316196 · Herceg Novi | <0.1% | 237,138€ | -10.0% | 14,167€ | 6.0% | 8 | 828€ |
| 476 | Nefis03323315 · Podgorica | <0.1% | 236,811€ | +23.9% | 5,745€ | 2.4% | 5 | 1,136€ |
| 477 | Bite Factory03597598 · Tivat | <0.1% | 236,459€ | -10.5% | 18,402€ | 7.8% | 5 | 1,363€ |
| 478 | Bird MK02879905 · Herceg Novi | <0.1% | 235,391€ | +30.6% | 18,232€ | 7.7% | 2 | 2,755€ |
| 479 | Pinokio Food03353559 · Podgorica | <0.1% | 235,337€ | +98.7% | 3,430€ | 1.5% | 3 | 768€ |
| 480 | Hemingway Company03099067 · Bar | <0.1% | 234,213€ | +5.7% | 18,335€ | 7.8% | 5 | 1,035€ |
| 481 | Ran03040496 · Danilovgrad | <0.1% | 233,822€ | +5.2% | 34,740€ | 14.9% | 6 | 559€ |
| 482 | Cadica03158802 · Budva | <0.1% | 233,354€ | +7.8% | -266,799€ | -114.3% | 3 | 10,802€ |
| 483 | Gastroli03134512 · Rožaje | <0.1% | 232,729€ | +33.6% | 3,572€ | 1.5% | 14 | 714€ |
| 484 | L&M 103357830 · Budva | <0.1% | 231,106€ | +5.0% | 3,260€ | 1.4% | 6 | 760€ |
| 485 | B&B Berane03708403 · Berane | <0.1% | 230,687€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 2,603€ | 1.1% | 5 | 1,358€ |
| 486 | Margioni03407039 · Ulcinj | <0.1% | 230,633€ | +105.5% | 28,680€ | 12.4% | 6 | 825€ |
| 487 | MN Kymo03409368 · Herceg Novi | <0.1% | 230,560€ | +49.1% | 28,286€ | 12.3% | 5 | 842€ |
| 488 | Alebo03030555 · Podgorica | <0.1% | 230,425€ | +9.6% | 1,693€ | 0.7% | 6 | 1,594€ |
| 489 | Tanopex03087603 · Budva | <0.1% | 229,879€ | +6.0% | 50,480€ | 22.0% | 4 | 622€ |
| 490 | Gala Mne03401405 · Podgorica | <0.1% | 229,872€ | +4.3% | -403€ | -0.2% | 4 | 719€ |
| 491 | Dabižinović02249006 · Herceg Novi | <0.1% | 229,709€ | -6.0% | 4,280€ | 1.9% | 8 | 1,000€ |
| 492 | Deki Tivat03557375 · Tivat | <0.1% | 229,208€ | +20.8% | 11,508€ | 5.0% | 6 | 712€ |
| 493 | Restoran Maestral03353435 · Tivat | <0.1% | 228,750€ | -11.7% | 62,805€ | 27.5% | 3 | 1,231€ |
| 494 | Boccalupo03435571 · Herceg Novi | <0.1% | 228,449€ | +21.5% | 34,604€ | 15.1% | 9 | 597€ |
| 495 | Sonso & Co03717801 · Bar | <0.1% | 227,793€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -6,479€ | -2.8% | 9 | 871€ |
| 496 | La Casa Tourism03601811 · Budva | <0.1% | 226,250€ | +9,572.9% | 62,820€ | 27.8% | 0 | — |
| 497 | Mikola Eats03498743 · Podgorica | <0.1% | 226,074€ | +16.4% | -752€ | -0.3% | 6 | 830€ |
| 498 | NN Tours03319822 · Kolašin | <0.1% | 226,025€ | +39.4% | 3,375€ | 1.5% | 5 | 1,252€ |
| 499 | Istra Besac03334961 · Bar | <0.1% | 225,712€ | -13.9% | 5,504€ | 2.4% | 10 | 774€ |
| 500 | Vukas Tourism03650600 · Kotor | <0.1% | 225,453€ | +35.0% | 112,203€ | 49.8% | 2 | 734€ |