Are Michelin Stars Really a Measure of Success?
The “Best Chef in the World” has lost his Michelin star. But what will this mean for his business? In this article, we look at how these stars affect the F&B industry.
Did you know that, as of 2022, there are a total of 2,817 restaurants that have been awarded a Michelin star? This prestigious star is worn as a badge of honor by many businesses, as it is awarded based on the "quality and flavor of food served, as well as mastery of culinary technique and personality of the dishes."
Dubbed as a "hallmark of fine dining by many of the world’s top chefs—not to mention restaurant patrons," said stars are not easy to obtain, as they are given to restaurants that Michelin deems as the very best in a given city. In turn, recipients proudly showcase these stars in their storefronts, with many seeing an increase in business after receiving their stars.
These stars, however, are not permanent, as they can easily be revoked. Take for example the restaurant of Guy Savoy—a French chef known as the “Best Chef in the World”—which recently lost its star.
This raises the question—how important is a Michelin star to the success of a restaurant? And how detrimental is losing it for the business? We take a closer look.
Sign up/Log-in to continue reading The Business Manual for only P120/year.
Already a member? Log in below.