Food and beverage options are a crucial element of the employee workplace experience. According to HqO data, restaurants ranked among the top 15 most important workplace features, highlighting their significance. However, despite this importance, only 52% of employees are satisfied with the dining options available in their work environment.
This gap presents both a challenge and an opportunity. While there are countless ways to elevate a property’s food and beverage experience, some have decided to raise the bar by offering Michelin-starred restaurants to their end-users of space.
What is a Michelin Star?
A Michelin Star is awarded to restaurants offering outstanding cooking based on five criteria: the quality of the ingredients, the harmony of flavors, the mastery of techniques, the personality of the chef as expressed through their cuisine, and, just as importantly, consistency both across the entire menu and over time.
Why would a CRE property want to include a Michelin Star restaurant?
Enhanced Prestige and Reputation
- Having a Michelin-starred restaurant as a tenant can significantly elevate the overall image and prestige of the CRE property. It demonstrates a commitment to quality, exclusivity, and a unique experience, attracting a high-end clientele and creating a buzz around the entire development.
Increased Foot Traffic and Revenue
- Having a Michelin-starred restaurant can transform the CRE property into a destination itself, attracting not only local residents but also tourists and business travelers specifically seeking this unique dining experience. This can further elevate the property’s value and position it as a desirable location for other high-end tenants.
Higher Rents
- Michelin-starred restaurants are typically willing to pay premium rent for prime locations due to their high profit margins. This can be a significant benefit for the CRE owner, generating additional revenue and potentially justifying higher rents for other nearby tenants who benefit from the increased foot traffic.
NYC Properties with Michelin Starred Bites
Le Bernardin
At Le Bernardin, located in the Equitable Building owned by SL Green Realty at 155 West 51st Street, guests indulge in the finest French seafood cuisine. With its three Michelin stars, Le Bernardin offers an unparalleled dining experience renowned for its impeccable service and innovative dishes.
Per Se
Chef Thomas Keller’s flagship restaurant, Per Se, is in the Deutsche Bank Center at 1 Columbus Circle. With its three Michelin stars, Per Se elevates fine dining to new heights, showcasing exquisite flavors and meticulous attention to detail in every dish.
Manhatta
Manhatta is a modern New American restaurant situated on the 60th floor of the 250 West Street skyscraper in Lower Manhattan, NYC. Offering stunning city views and a vibrant atmosphere, Manhatta has become a popular destination for both locals and tourists seeking an upscale dining experience.
Do you work in a property with outstanding food and beverage offerings? Nominate it to be HqO Best Spaces to Work certified.
