Montenegro has 5 hotels in the Michelin Guide's Key selection — 1 Two Keys and 4 One Key — across 5 places, led by Kamenari with 1. 2 can be booked with points: 1 through Mr & Mrs Smith and 1 through IHG One Rewards. The rest are cash-only independents, listed so the map is complete.

52k pts
51k pts

Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| The Chedi Luštica Bay Radovići, Montenegro | Mr & Mrs Smith | 51,500 | 1.2¢/pt | |
| Regent Porto Montenegro Tivat, Montenegro | IHG · Regent | 51,000 | 0.4¢/pt |
5 places in Montenegro have at least one Key hotel. Cities with three or more get their own page.
Mr & Mrs Smith 1
~1.7¢ per point · Chase Ultimate Rewards and Bilt Rewards transfer to World of Hyatt at 1:1; the same points work at every Mr & Mrs Smith property, and stays earn elite nights.
Regent 1
~0.6¢ per point · Chase Ultimate Rewards and Bilt transfer to IHG at 1:1.
5: 1 Two Keys and 4 One Key. They are spread over 5 places; Kamenari has the most with 1.
2 of the 5: The Chedi Luštica Bay and Regent Porto Montenegro. By program: 1 through Mr & Mrs Smith and 1 through IHG One Rewards.
Two Keys is the highest rating held in Montenegro, by One&Only Portonovi. None of them take points.
Regent Porto Montenegro in Tivat, at a median of about 51,000 IHG points a night — 0.4¢ per point against the cash rate.
Every loyalty program, Key rating, country and city has its own page with points prices, value per point and a map.
MICHELIN, the MICHELIN Guide, MICHELIN Key and the MICHELIN Key emblem are trademarks of Compagnie Générale des Établissements Michelin and its affiliates. They appear on this page only to identify the hotel distinctions awarded by the MICHELIN Guide, in a nominative and descriptive manner. AwardClaw is an independent publication and is not affiliated with, sponsored by, endorsed by or otherwise connected to Michelin. The hotel selection and Key ratings are published by the MICHELIN Guide at guide.michelin.com; consult it for the official and current selection.
World of Hyatt, Marriott Bonvoy, Hilton Honors, IHG One Rewards, ALL – Accor Live Limitless, Small Luxury Hotels of the World, Mr & Mrs Smith, Design Hotels and all hotel names are trademarks of their respective owners, and their appearance here does not imply endorsement. Hotel photographs are the property of the respective hotels and are shown for identification only. Points prices and cents-per-point values are AwardClaw's own observations and estimates; they move with dynamic pricing and are not statements by any loyalty program. Partner portfolios change, so confirm rates, award availability and program membership on the program's own site before transferring points.