Karisma Hotels Adriatic Montenegro DOO filed to refurbish the Kiwi annex at Azul Beach Resort Montenegro in Ulcinj. The application does not give a project cost or completion date.

Montenegro recorded approximately 2.29 million tourist arrivals and 12.79 million overnight stays in January-August 2026, up from a year earlier. Foreign visitors drove the growth, while visitor volumes do not directly show tourism businesses’ earnings.