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 251–300 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% |
| 460,003€ |
| +29.3% |
| -51,350€ |
| -11.2% |
| 8 |
| 1,172€ |
| 253 | Vapiano03066622 · Tivat | <0.1% | 459,924€ | +12.1% | 40,164€ | 8.7% | 9 | 657€ |
| 254 | Amipek02166038 · Podgorica | <0.1% | 459,782€ | +16.4% | 69,292€ | 15.1% | 11 | 934€ |
| 255 | Senčo Company03566846 · Bijelo Polje | <0.1% | 457,670€ | +31.2% | 1,189€ | 0.3% | 8 | 539€ |
| 256 | Bulevar 08103216438 · Podgorica | <0.1% | 455,360€ | +5.5% | 3,325€ | 0.7% | 11 | 1,145€ |
| 257 | Vitamic03106438 · Podgorica | <0.1% | 452,817€ | +23.9% | 19,249€ | 4.3% | 7 | 1,059€ |
| 258 | Restoran Obala03389570 · Podgorica | <0.1% | 451,637€ | +23.5% | 75,660€ | 16.8% | 4 | 1,031€ |
| 259 | La Mar Inc03422020 · Budva | <0.1% | 450,528€ | +45.1% | 75,550€ | 16.8% | 6 | 1,749€ |
| 260 | Mivia03173194 · Herceg Novi | <0.1% | 450,448€ | +11.9% | 27,320€ | 6.1% | 10 | 1,350€ |
| 261 | Kenova Igalo03661296 · Herceg Novi | <0.1% | 449,372€ | +79.7% | 65,978€ | 14.7% | 11 | 1,257€ |
| 262 | Bannox03628965 · Ulcinj | <0.1% | 448,794€ | +332.8% | 92,894€ | 20.7% | 12 | 865€ |
| 263 | Madam Mandić03256677 · Podgorica | <0.1% | 445,299€ | -18.7% | 3,823€ | 0.9% | 14 | 873€ |
| 264 | Antivari Star03024687 · Bar | <0.1% | 444,624€ | +114.1% | 68,117€ | 15.3% | 15 | 659€ |
| 265 | United Consulting Team03155978 · Podgorica | <0.1% | 444,567€ | +30.5% | -45,356€ | -10.2% | 8 | 834€ |
| 266 | Montin03051633 · Herceg Novi | <0.1% | 443,064€ | +92.2% | 45,793€ | 10.3% | 3 | 2,347€ |
| 267 | Kolacimozart03128598 · Budva | <0.1% | 440,990€ | +58.0% | 13,939€ | 3.2% | 8 | 938€ |
| 268 | Lumbrella03017869 · Budva | <0.1% | 439,067€ | +121.5% | -124,533€ | -28.4% | 9 | 969€ |
| 269 | Revolucija Plus03244288 · Nikšić | <0.1% | 436,437€ | +19.4% | 32,696€ | 7.5% | 9 | 852€ |
| 270 | Antiquus03415252 · Budva | <0.1% | 436,246€ | +18.4% | 53,996€ | 12.4% | 5 | 1,976€ |
| 271 | Almix03082890 · Budva | <0.1% | 435,899€ | +39.9% | 72,756€ | 16.7% | 1 | 4,635€ |
| 272 | Amn03084027 · Podgorica | <0.1% | 435,599€ | +27.6% | 59,852€ | 13.7% | 9 | 1,122€ |
| 273 | Calabria02961555 · Podgorica | <0.1% | 435,470€ | +29.8% | 24,962€ | 5.7% | 14 | 588€ |
| 274 | Konoba - Stari Grad02918633 · Budva | <0.1% | 435,435€ | -13.2% | -24,129€ | -5.5% | 8 | 1,972€ |
| 275 | Aurora DMD03400743 · Herceg Novi | <0.1% | 433,914€ | +41.0% | 27,495€ | 6.3% | 11 | 1,198€ |
| 276 | Rivista03702227 · Ulcinj | <0.1% | 432,455€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 47,696€ | 11.0% | 12 | 712€ |
| 277 | Kole Commerce02732009 · Bar | <0.1% | 432,338€ | -3.6% | 1,507€ | 0.3% | 8 | 1,366€ |
| 278 | M&S Kralj03302911 · Budva | <0.1% | 430,861€ | +17.3% | 22,483€ | 5.2% | 9 | 856€ |
| 279 | Banjalučki Ćevap02860902 · Bar | <0.1% | 429,137€ | +16.5% | 26,871€ | 6.3% | 8 | 780€ |
| 280 | V&V Time03234746 · Bar | <0.1% | 423,703€ | +24.7% | 33,298€ | 7.9% | 9 | 1,295€ |
| 281 | Blanila02460211 · Budva | <0.1% | 423,408€ | +21.3% | 34,118€ | 8.1% | 8 | 911€ |
| 282 | Atos Plus03021025 · Budva | <0.1% | 421,679€ | +21.4% | 35,058€ | 8.3% | 7 | 1,340€ |
| 283 | Knjaz Home03559688 · Nikšić | <0.1% | 420,584€ | +19.9% | 17,560€ | 4.2% | 10 | 669€ |
| 284 | Peličić Co Mont03537625 · Podgorica | <0.1% | 420,312€ | +89.8% | 56,781€ | 13.5% | 6 | 1,317€ |
| 285 | Tara Turist02660741 · Mojkovac | <0.1% | 419,061€ | +12.9% | 54,696€ | 13.1% | 14 | 797€ |
| 286 | Ombra03504662 · Kotor | <0.1% | 415,977€ | +10.2% | -2,693€ | -0.6% | 10 | 1,055€ |
| 287 | Liburna03230104 · Ulcinj | <0.1% | 415,236€ | +15.3% | 10,873€ | 2.6% | 12 | 649€ |
| 288 | Svetionik Jaz02655918 · Budva | <0.1% | 412,822€ | +9.4% | 860€ | 0.2% | 9 | 1,748€ |
| 289 | M.S.02675145 · Budva | <0.1% | 412,665€ | +33.7% | -17,684€ | -4.3% | 7 | 1,663€ |
| 290 | MNVD02995409 · Kotor | <0.1% | 409,323€ | -4.1% | 9,022€ | 2.2% | 11 | 1,037€ |
| 291 | Besac03409210 · Podgorica | <0.1% | 407,425€ | +1.3% | -19,532€ | -4.8% | 10 | 1,483€ |
| 292 | Avantiro02987422 · Kotor | <0.1% | 406,996€ | -1.0% | 20,982€ | 5.2% | 14 | 878€ |
| 293 | Piazza03121992 · Nikšić | <0.1% | 406,940€ | +16.0% | 3,900€ | 1.0% | 11 | 714€ |
| 294 | Best Food03231399 · Podgorica | <0.1% | 403,464€ | +1.2% | 2,157€ | 0.5% | 11 | 736€ |
| 295 | Havina03473015 · Podgorica | <0.1% | 403,309€ | +26.8% | 10,129€ | 2.5% | 7 | 748€ |
| 296 | Kompanija Delić03293203 · Mojkovac | <0.1% | 402,025€ | +13.2% | 55,549€ | 13.8% | 8 | 1,216€ |
| 297 | Vavax Trade02779706 · Budva | <0.1% | 400,185€ | +12.2% | 45,603€ | 11.4% | 6 | 1,779€ |
| 298 | Cornetto03534758 · Herceg Novi | <0.1% | 400,156€ | +21.7% | 101,572€ | 25.4% | 11 | 633€ |
| 299 | MB Tourist03652980 · Žabljak | <0.1% | 398,998€ | +152.8% | 11,121€ | 2.8% | 1 | 339€ |
| 300 | DM303361594 · Herceg Novi | <0.1% | 397,792€ | +76.2% | 20,755€ | 5.2% | 16 | 850€ |