Montenegrin hotel group Budvanska Rivijera generated €24.65 million in revenue during the first nine months of 2026, an increase of approximately €3.35 million compared with the corresponding period of 2025, as accommodation sales grew and demand from Western European visitors strengthened. Income from accommodation arrangements rose by around 17%, contributing an additional €2.88 million to revenue.
The company expects to register approximately 445,000 overnight stays in 2026, compared with around 406,000 in 2025, representing an increase of nearly 10%. Stronger demand from Western Europe has helped offset weaker business from eastern source markets, according to the company. This shift comes as Montenegro prepares for tighter visa requirements that could affect visitor flows from established markets outside the European Union, including Russia and Turkey, in connection with the country’s alignment with EU visa policy.
The changing composition of demand highlights the importance of diversifying visitor markets for Montenegro’s tourism operators. Budvanska Rivijera has also expanded its asset base through the takeover of Hotel Cristal in Petrovac, a property comprising 25 accommodation units. The transaction increased the group’s assets by almost €11 million. The company’s latest revenue figures reflect stronger sales but do not establish an equivalent increase in net profit. Higher accommodation income must be considered alongside operating expenses, including wages, utilities and compliance costs, which affect hotel operators’ earnings.
Maintaining revenue growth while managing potential increases in labour costs and continuing investment in hotel quality remains a key consideration for the group. The combination of higher accommodation sales, stronger demand from Western European markets and the acquisition of Hotel Cristal has contributed to Budvanska Rivijera’s expansion in Montenegro’s coastal hospitality sector.
