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 World of Hyatt 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 | Hyatt · 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.
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 World of Hyatt 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.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.