New York’s dining scene was stunned this week when Michelin knocked Masa down from three stars to two. The high-end sushi counter at the Deutsche Bank Center — where the lowest-priced menu costs $750 before drinks — had held three stars for 15 years and was long viewed as untouchable. The change came as Michelin upgraded Sushi Sho, a newcomer that opened early last year, from two stars to three.
Industry insiders say the move could seriously affect Masa’s business, especially since Michelin stars still drive decisions for wealthy diners from abroad.
Experts predict revenue hit
One well-known restaurateur familiar with how Michelin ratings impact sales said the financial consequences could be significant. He explained to the New York Post that the downgrade “will cost Masa — not overnight since they’re booked far into the future, but once they go through that list,” adding that “when a place is demoted from three stars to two, it can cost them 25% to 30% of their revenue.”
He also said that “Michelin is still the gospel for a coterie of big spenders from Europe and Asia who chose restaurants based on whether they have three Michelin stars or not.”
Because Masa is small, with only 26 seats, it has fewer ways to make up revenue than larger restaurants. At the same time, omakase spots have been opening all over Manhattan, and many now offer high-quality meals for around $400, giving diners more options than ever.
A history of luxury
{{/usCountry}}Because Masa is small, with only 26 seats, it has fewer ways to make up revenue than larger restaurants. At the same time, omakase spots have been opening all over Manhattan, and many now offer high-quality meals for around $400, giving diners more options than ever.
A history of luxury
{{/usCountry}}Masa has built its reputation on extremely high-end ingredients and a calm, minimalist experience known as the Hinoki Counter. The restaurant became famous for dishes featuring pristine fish, caviar, and truffles prepared with exacting precision. Chef Masayoshi Takayama brought his deeply personal approach to Japanese cuisine to New York more than 20 years ago, earning two Michelin stars early on and securing a third the following year.
For many years, it was considered the most expensive meal in the United States, with today’s omakase costing well over $1,000 per person.
According to Time Out, Takayama released a statement addressing Masa’s demotion. “For 15 years, we’ve been honored to stand among extraordinary company and I’m so grateful to our guests for their enduring trust, loyalty and friendship,” he said. “I am deeply proud of the hard work our team puts in day-in and day-out and as always, we will continue to strive for excellence.”