NEW YORK Renowned chef Michael Schlow says business is picking up at his upscale restaurants, making him believe that an economic turnaround could happen sooner rather than later.
Schlow, chef and co-owner of Boston-based Radius Restaurant Group, operator of the upscale Radius and Via Matta restaurants in Boston and two Alta Strada outlets in Wellesley, Mass., and at the MGM Grand at Foxwoods in Mashantucket, Conn., was in New York earlier this week to publicize his new book, “It’s About Time, Great Recipes for Everyday Life.” In addition to appearing on ABC’s “Good Morning America,” he talked with Nation’s Restaurant News. Schlow and his partners in late May closed their Great Bay seafood restaurant in Boston.
What has surprised you the most during this recession? The weird thing is that a lot of people said [that with job cuts and layoffs] we’d get a flood of great people, managers, coming to us, but that hasn’t happened. I would have thought we’d be busting at the seams, but that’s just not the case. We have issues; we need people at all of our restaurants.
Are you planning to grow the business at all? We’re looking at opening another Alta Strada. There might be opportunities in New York or D.C. With so many empty spaces and lower rents, someone’s misfortune may turn out to be fortunate for us.
How would you finance this with banks still not lending? We’re not worried about financing because we have money in the bank. We planned for this. Plus, we have an excellent credit score.
Are you sensing that people are starting to spend a little more? They’re still being careful, but I think people are getting a little sick of being told to stay inside. Life is too short. You still have to get out there and socialize with people.
Has the recession caused you to change the way you operate? For us it is the same job — to take care of and give that four-star experience to all of our guests. Quality should have nothing to do with your sale price.
Have you made big changes at your restaurants because of the economic downturn? At Radius we can only go so far because the guest should never know you did anything behind the scenes. You have to stick with the core component that got you there in the first place. It’s hard, but then it’s never easy in the restaurant business.
What is today’s business climate like for restaurateurs? It’s very stressful, but rewarding. Now you always hear about zero being the new normal. We’re just trying to stay even.
