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 101–150 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*
0.2% |
| 914,520€ |
| +35.8% |
| 20,525€ |
| 2.2% |
| 20 |
| 1,303€ |
| 103 | Acd02426188 · Budva | 0.2% | 907,129€ | -5.2% | 24,976€ | 2.8% | 23 | 976€ |
| 104 | 4 Asa03125572 · Podgorica | 0.2% | 903,292€ | +14.2% | 13,566€ | 1.5% | 20 | 1,259€ |
| 105 | NV Group02873567 · Kolašin | 0.2% | 878,414€ | +156.5% | 4,008€ | 0.5% | 8 | 2,164€ |
| 106 | Grano03595919 · Tivat | 0.2% | 873,437€ | +9.4% | -194,994€ | -22.3% | 23 | 1,705€ |
| 107 | Hattrick02163071 · Budva | 0.2% | 858,165€ | +12.6% | 224,936€ | 26.2% | 15 | 966€ |
| 108 | TRG PG03127737 · Podgorica | 0.2% | 852,730€ | +2.1% | 35,039€ | 4.1% | 21 | 1,211€ |
| 109 | Mnađ03328457 · Kotor | 0.2% | 844,598€ | +0.1% | 27,422€ | 3.2% | 15 | 1,121€ |
| 110 | Živanić02292688 · Herceg Novi | 0.2% | 837,967€ | +10.2% | 179,585€ | 21.4% | 18 | 620€ |
| 111 | Casper Productio02448882 · Budva | 0.2% | 837,755€ | +14.5% | 97,057€ | 11.6% | 11 | 1,833€ |
| 112 | Ko-Company03088944 · Kotor | 0.2% | 836,419€ | +9.4% | 162,045€ | 19.4% | 16 | 836€ |
| 113 | Different03288684 · Podgorica | 0.2% | 830,032€ | -31.9% | -44,779€ | -5.4% | 25 | 1,264€ |
| 114 | SQR03391604 · Herceg Novi | 0.2% | 829,268€ | +9.1% | -39,745€ | -4.8% | 46 | 613€ |
| 115 | Mik - Mrvaljević i Drugi02332353 · Herceg Novi | 0.2% | 825,737€ | -3.8% | 79,592€ | 9.6% | 14 | 1,122€ |
| 116 | Beach02926369 · Podgorica | 0.2% | 824,608€ | +7.0% | -149,757€ | -18.2% | 4 | 4,512€ |
| 117 | Ilijada Commerce03448070 · Herceg Novi | 0.2% | 823,605€ | +15.0% | 124,886€ | 15.2% | 9 | 918€ |
| 118 | Productivv03234932 · Tivat | 0.2% | 823,378€ | -39.6% | 251,633€ | 30.6% | 10 | 1,076€ |
| 119 | M&M Group03527743 · Kotor | 0.2% | 818,236€ | +46.0% | 64,536€ | 7.9% | 17 | 1,420€ |
| 120 | Finestra Pro03238938 · Herceg Novi | 0.2% | 801,229€ | +27.3% | 6,009€ | 0.7% | 17 | 934€ |
| 121 | Fiko Catering03341771 · Podgorica | 0.2% | 800,331€ | +51.3% | 63,955€ | 8.0% | 19 | 743€ |
| 122 | Orizzonte03109470 · Budva | 0.2% | 791,117€ | +4.5% | 65,015€ | 8.2% | 20 | 512€ |
| 123 | Nav02805871 · Danilovgrad | 0.2% | 790,277€ | +1.7% | 100,842€ | 12.8% | 20 | 626€ |
| 124 | Smokvica02982790 · Budva | 0.2% | 789,044€ | +374.7% | 148,002€ | 18.8% | 4 | 3,021€ |
| 125 | Emma-603319083 · Podgorica | 0.2% | 787,124€ | +61.9% | 1,083€ | 0.1% | 14 | 859€ |
| 126 | Separe03295389 · Bar | 0.2% | 780,112€ | +9.0% | 27,572€ | 3.5% | 15 | 1,440€ |
| 127 | Babi Company03297772 · Tivat | 0.2% | 774,630€ | -33.9% | 1,812€ | 0.2% | 26 | 1,154€ |
| 128 | Playboy02992540 · Kotor | 0.2% | 758,781€ | -2.0% | 201,139€ | 26.5% | 9 | 1,340€ |
| 129 | System Group02698382 · Budva | 0.2% | 758,629€ | -8.5% | 6,437€ | 0.8% | 20 | 1,076€ |
| 130 | Your Time03452166 · Bar | 0.2% | 756,665€ | +42.8% | 77,813€ | 10.3% | 29 | 685€ |
| 131 | Moreta02715325 · Budva | 0.2% | 746,693€ | +14.0% | 197,939€ | 26.5% | 11 | 1,378€ |
| 132 | Bonazza03740587 · Kotor | 0.2% | 745,514€ | No filing for 2024. | 221,153€ | 29.7% | 0 | — |
| 133 | Pjati03161277 · Budva | 0.2% | 744,947€ | +25.7% | 223,067€ | 29.9% | 10 | 2,050€ |
| 134 | SM&SM03180506 · Podgorica | 0.2% | 737,023€ | +2.1% | 45,063€ | 6.1% | 16 | 1,228€ |
| 135 | Restobar Taraca02815192 · Kotor | 0.2% | 734,924€ | +2.9% | 51,202€ | 7.0% | 17 | 1,353€ |
| 136 | Galeb Lux03020355 · Ulcinj | 0.2% | 734,855€ | -3.5% | 23,792€ | 3.2% | 16 | 1,037€ |
| 137 | Ambassador Group03402754 · Budva | 0.2% | 731,094€ | -10.6% | 17,320€ | 2.4% | 20 | 952€ |
| 138 | Lir02062755 · Budva | 0.2% | 728,666€ | -0.2% | -16,829€ | -2.3% | 22 | 1,047€ |
| 139 | Monoment03076563 · Ulcinj | 0.2% | 727,850€ | +13.0% | 22,858€ | 3.1% | 10 | 594€ |
| 140 | Uno Pizza Bar03437205 · Bar | 0.2% | 727,492€ | +11.7% | 14,280€ | 2.0% | 22 | 1,071€ |
| 141 | Zlatibor Mont02465183 · Podgorica | 0.2% | 715,156€ | -10.2% | 97,359€ | 13.6% | 12 | 1,215€ |
| 142 | Divino Group03386503 · Tivat | 0.2% | 710,880€ | -7.6% | 3,584€ | 0.5% | 14 | 1,742€ |
| 143 | Merlin Ponta03295974 · Tivat | 0.2% | 708,436€ | +26.7% | 51,094€ | 7.2% | 10 | 1,177€ |
| 144 | Buongiorno Caffe03623602 · Ulcinj | 0.2% | 707,026€ | +17.2% | 33,034€ | 4.7% | 22 | 1,121€ |
| 145 | BV Restaurants03491447 · Podgorica | 0.2% | 702,259€ | +57.7% | 91,027€ | 13.0% | 14 | 953€ |
| 146 | Restoran Kristal03475573 · Podgorica | 0.2% | 696,974€ | +13.5% | 2,199€ | 0.3% | 13 | 1,062€ |
| 147 | Tormenta02972727 · Tivat | 0.2% | 696,051€ | -21.9% | 11,337€ | 1.6% | 11 | 1,589€ |
| 148 | Caffeine Company03075966 · Podgorica | 0.2% | 695,781€ | +7.6% | 35,553€ | 5.1% | 15 | 1,223€ |
| 149 | Alrais Enterprises03212173 · Podgorica | 0.1% | 692,945€ | +16.8% | -14,027€ | -2.0% | 30 | 837€ |
| 150 | Čoković Company02817284 · Bijelo Polje | 0.1% | 682,539€ | +20.6% | 12,842€ | 1.9% | 22 | 747€ |