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 351–400 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% |
| 336,761€ |
| No filing for 2024. |
| 5,048€ |
| 1.5% |
| 8 |
| 1,254€ |
| 353 | No 6503538303 · Kotor | <0.1% | 333,263€ | +6.4% | 80,469€ | 24.1% | 6 | 854€ |
| 354 | Panorama Company03526186 · Cetinje | <0.1% | 332,725€ | +112.5% | 742€ | 0.2% | 10 | 708€ |
| 355 | Jambiani03314189 · Podgorica | <0.1% | 331,934€ | +134.6% | 21,832€ | 6.6% | 4 | 933€ |
| 356 | Pamfilya03702332 · Podgorica | <0.1% | 329,305€ | No filing for 2024. | 23,578€ | 7.2% | 0 | — |
| 357 | W-Prom02807742 · Berane | <0.1% | 328,476€ | +11.4% | 28,107€ | 8.6% | 9 | 691€ |
| 358 | Velting02108402 · Nikšić | <0.1% | 326,935€ | -49.2% | 3,959€ | 1.2% | 19 | 509€ |
| 359 | Tutin Co03271595 · Kotor | <0.1% | 326,246€ | +24.8% | -58,974€ | -18.1% | 10 | 859€ |
| 360 | Progresso02665557 · Herceg Novi | <0.1% | 326,025€ | +5.6% | -20,955€ | -6.4% | 9 | 769€ |
| 361 | Agro-Mils03061892 · Nikšić | <0.1% | 325,753€ | +37.4% | 31,061€ | 9.5% | 9 | 887€ |
| 362 | Lejla02433583 · Bar | <0.1% | 325,738€ | -0.7% | -6,628€ | -2.0% | 10 | 598€ |
| 363 | Menjo Goj Goj03234720 · Herceg Novi | <0.1% | 325,465€ | +20.2% | -15,639€ | -4.8% | 12 | 909€ |
| 364 | Kastel Igalo03402762 · Herceg Novi | <0.1% | 325,015€ | +8.4% | 25,869€ | 8.0% | 5 | 2,366€ |
| 365 | Dobre Vode02462109 · Kolašin | <0.1% | 324,609€ | +12.8% | -45,087€ | -13.9% | 9 | 943€ |
| 366 | Mountain Tours02783541 · Kolašin | <0.1% | 323,949€ | -6.2% | 20,977€ | 6.5% | 7 | 1,361€ |
| 367 | Adriatica Brothers02410419 · Ulcinj | <0.1% | 323,530€ | -34.5% | 49,314€ | 15.2% | 3 | 1,911€ |
| 368 | Kužina03075753 · Bar | <0.1% | 323,386€ | +16.1% | 4,206€ | 1.3% | 15 | 708€ |
| 369 | Pasta Villa03312275 · Podgorica | <0.1% | 323,159€ | +33.0% | -37,454€ | -11.6% | 6 | 1,024€ |
| 370 | Dukić02897652 · Kolašin | <0.1% | 322,563€ | +1.8% | 39,272€ | 12.2% | 9 | 567€ |
| 371 | PAY&BAY03485030 · Budva | <0.1% | 321,066€ | -23.9% | -32,522€ | -10.1% | 13 | 806€ |
| 372 | LLC Reca03531163 · Budva | <0.1% | 320,296€ | +23.5% | -35,037€ | -10.9% | 6 | 2,042€ |
| 373 | Casa Mia 203250679 · Budva | <0.1% | 317,326€ | +24.3% | 2,711€ | 0.9% | 5 | 1,402€ |
| 374 | Lauera03159353 · Kotor | <0.1% | 317,271€ | -13.7% | -128,173€ | -40.4% | 8 | 1,288€ |
| 375 | Miličica-Milica Mica03711943 · Kotor | <0.1% | 316,193€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 8,028€ | 2.5% | 6 | 513€ |
| 376 | Istok Lapčići03542785 · Budva | <0.1% | 315,864€ | -7.2% | -115,419€ | -36.5% | 12 | 882€ |
| 377 | Div Company03073831 · Podgorica | <0.1% | 315,328€ | +1.2% | 632€ | 0.2% | 4 | 815€ |
| 378 | Hostelerija02945398 · Bar | <0.1% | 313,981€ | +22.3% | 16,012€ | 5.1% | 5 | 1,021€ |
| 379 | Avanti 302929643 · Bar | <0.1% | 312,773€ | -18.9% | 24,393€ | 7.8% | 6 | 981€ |
| 380 | Lješevići03011607 · Kotor | <0.1% | 310,401€ | +56.2% | 49,663€ | 16.0% | 3 | 1,011€ |
| 381 | Athos Real Estate03316971 · Podgorica | <0.1% | 306,828€ | -58.5% | 95,177€ | 31.0% | 8 | 510€ |
| 382 | Staxe03202682 · Berane | <0.1% | 305,856€ | +22.6% | 6,217€ | 2.0% | 11 | 753€ |
| 383 | Adriatica A&V03355675 · Budva | <0.1% | 305,852€ | -27.2% | 12,433€ | 4.1% | 4 | 1,896€ |
| 384 | O.S.I.02431661 · Berane | <0.1% | 303,419€ | +25.8% | -15,437€ | -5.1% | 10 | 1,129€ |
| 385 | Green Atlantic03035646 · Budva | <0.1% | 303,125€ | +21.6% | 7,113€ | 2.3% | 4 | 2,293€ |
| 386 | Paris Mne03575292 · Tuzi | <0.1% | 302,568€ | -16.0% | 4,455€ | 1.5% | 10 | 609€ |
| 387 | Pama Montenegro03750078 · Kotor | <0.1% | 302,402€ | No filing for 2024. | 39,976€ | 13.2% | 4 | 833€ |
| 388 | Morea A&M03071006 · Ulcinj | <0.1% | 300,505€ | +4.0% | 112,055€ | 37.3% | 2 | 309€ |
| 389 | Sunline Sea03751066 · Budva | <0.1% | 300,201€ | No filing for 2024. | 100,164€ | 33.4% | 7 | 388€ |
| 390 | BR Tuttobene03735940 · Bar | <0.1% | 299,467€ | No filing for 2024. | 6,909€ | 2.3% | 6 | 1,208€ |
| 391 | Food V.03671429 · Podgorica | <0.1% | 298,878€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -105,910€ | -35.4% | 13 | 555€ |
| 392 | Bulatović PL03483436 · Podgorica | <0.1% | 297,555€ | -11.2% | 46,605€ | 15.7% | 9 | 733€ |
| 393 | Filpet03152456 · Podgorica | <0.1% | 297,285€ | +14.8% | 2,921€ | 1.0% | 9 | 564€ |
| 394 | Terzić Company03172279 · Zeta | <0.1% | 296,739€ | +51.8% | 11,781€ | 4.0% | 6 | 814€ |
| 395 | Mon Bistro Cafeterie03365611 · Kotor | <0.1% | 294,568€ | +22.7% | 18,814€ | 6.4% | 9 | 1,044€ |
| 396 | Trio Grup03701182 · Podgorica | <0.1% | 294,478€ | +1,019.0% | -30,551€ | -10.4% | 10 | 918€ |
| 397 | BMR Company02400936 · Cetinje | <0.1% | 294,015€ | +40.5% | 3,959€ | 1.3% | 5 | 706€ |
| 398 | AN&CO Company03305309 · Herceg Novi | <0.1% | 293,061€ | +117.4% | 14,921€ | 5.1% | 2 | 740€ |
| 399 | Kusta02694557 · Budva | <0.1% | 291,315€ | -12.0% | -25,825€ | -8.9% | 10 | 738€ |
| 400 | Novia02858983 · Podgorica | <0.1% | 291,282€ | -34.4% | 6,641€ | 2.3% | 3 | 1,169€ |