Economy Impacting the Top Places?

[WineAG]

For those of you who's been dining in the top restaurants in Europe, curious to know if you are seeing effects of the poor economic climate. Places full? Reservations easier? Any other observations? I'd imagine small sought after places like L'Astrance are still tough tables... but are the exception. If that's true, any other places still tough to get a table?

Business is down in the US. Fri and Sat nights are still strong, but the rest of the week showing much weakness. The economy coupled with the traditionally slower post holiday winter months making it much easier here to get a table in places where it was very tough or nearly impossible a year ago.

[mjhals]

Well, I can't speak to the high-end places in Europe, but I have a U.S. (Las Vegas) anecdote to relate (the mention of Daniel Boulud by posters reminded me). I'm planning my wedding dinner at the private salon in his restaurant at the Wynn in Vegas and was quoted an $8,000 minimum for food and beverages (the room seats 40-50). After hearing dire reports about the state of Vegas, I inquired if the minimum was flexible, any negotiating possible? I was met with a cheerful, "no!" But then again, I'm still (cheerfully) paying the $8,000, so they're still doing something right.

[rHairing]

Everything is negotiable. I suggest getting quotes from similar venues then open the bid again.

[WineAG]

Congratulatons... For the private room, in a place like that in Vegas, a minimum of $200 a head isn't bad. Negotiating the minimum isn't that important... as I think you'll shatter the $8K once the champagne starts flowing.. Would imagine you're not gonna be "watching the meter" on your wedding day. All the best!

[Harters]

"For those of you who's been dining in the top restaurants in Europe, curious to know if you are seeing effects of the poor economic climate. Places full?"

Well, in the last few weeks, I've dined at two of my region's Michelin-starred places. Both were doing reasonable business in my view, although not full. But then, I don't think it will be the top or bottom of the market that will be particularly hit. It'll be the mid-range places where people who have relatively good incomes cut back on their entertainment.

[Delucacheesemonger]

Fiamma just closed in NY, 3 stars, always full, was planning to go but now too late. When l was last at Le Cinq, room was about 60% full for lunch and no trouble with reservations a few days in advance, this was in late October.

[dietndesire]

Don't be disappointed about Fiamma closing.

[souphie]

I'm just back from a lunch at Le Cinq. The room was spectacularly not full -- maybe five tables top. The Chef said that he had lunch yesterday with Boulud and Keller and Jean-Georges and they are envisioning a 60% drop this year. They say restaurant who invested recently often can't meet payments already. They say Trama (*** in Puymirol in the SW of France) is on the verge of bankruptcy.

[ChefJune]

I'd say that's about right. Boulud and Jean-Georges will be able to keep their high end places afloat because of their lesser places, but even in "eat out every night" New York, folks are eating in. Times are very bad, and going to get worse before better.

[almansa]

Bouchon in Napa Valley just received a half-star, scathing review in the SF Chronicle. That's not going help.

[WineAG]

Thanks Souphie. I've noticed availability at Per Se when it was unheard of not very long ago. Honestly, a drop of 60% is bigger than I imagined. I guess that part of the reason for the big decline in revenue is that while there won't be as big of a dropoff in the number of covers, the check avg will be much lower... they're not seeing the big wines fly out the door as in the past... and for the places that offer a choice of menus, they are not going as grande. Still think that 60% drop is a bit high for Boulud and Keller... J Georges has so many places, and at diff price points, imagine it would be higher for his operation. Still think 60% is a bit of an exaduration. Btw, Daniel just received a glowing 4* review from the New York Times last week. They poured a lot of $ into a remodelling during the summer... place is better than ever... terrible timing.

The news about Trama is very sad to hear. I remember how he struggled, almost having to hang it up, before he received the 3rd star... which revived him. He's so remote it's no wonder that he'd be effected greatly. I really like what he does... a master of the black truffle.

I think we'll see a trend where some places will be closing for lunch, thinning out the staff, and concentrating their efforts on dinner.