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The ‘curse’ of the Michelin star
40% of restaurants awarded Michelin stars in 2005-14 had closed by the end of 2019.
Kieran Ryan
October 09, 2024
TODAY’S STORY
Restaurants might be better off remaining starless—not really, but stars don’t guarantee sustained success, according to new research from Daniel Sands.
Sands studied the impact of the Michelin Guide in New York City over two decades and found that 40% of restaurants awarded Michelin stars in 2005-14 had closed by the end of 2019.
Michelin stars boost publicity: the study found newly-starred restaurants saw a 35% increase in internet search activity.
But this newfound fame comes at a price: Notably, once a restaurant receives a star, its customers typically change. These new customers come from further away and bring higher expectations with them. Suppliers and landlords also use the star as an opportunity to charge more since restaurants have to purchase the highest-quality ingredients to maintain their star status.
So, move over Forbes 30 under 30; the new kiss of death could be a Michelin star.
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Kieran & Justin Ryan
