In a year marked by global economic headwinds, Montenegro Stars Hotels Group has delivered a sterling performance, posting record revenues of €29.38 million—a 7% rise year-on-year—and net profits of €1.83 million, up 8% from 2023.
Operating the renowned Splendid, Montenegro, and Blue Star hotels in Budva, the group has balanced growth with strategic investment and workforce expansion.
Despite a 9% rise in expenditures, EBITDA rose modestly to €6.26 million, indicating resilient core operations.
Workforce numbers climbed to 558, with average annual gross salaries jumping over 15%, from €13,330 to €15,300 per employee.
Notably, while working capital dipped by 19%, long-term asset value surpassed €100 million and equity grew to €73.8 million, bolstering financial stability.
Looking ahead, over €5 million in upgrades across its Montenegro and Splendid hotels are planned for 2025, promising elevated service and positioning the group at the forefront of Adriatic luxury tourism.