The Guide Michelin is losing $24 million a year, while Michelin-starred restaurants continue to rake in the dough

The Guide Michelin is losing $24 million a year, while Michelin-starred restaurants continue to rake in the dough

(Image: Alex Castellá) 

While the bible of high-end dining has yet to make its way to this country, that doesn’t stop us by being fascinated with the whole Michelin star process. As this recent Financial Times piece reports, Michelin is losing $24 million a year on its guides, and while that number is expected to reach $30 million by 2015, Michelin-starred restaurants are doing just fine—business spikes upwards of 25 per cent upon receiving the ultimate culinary honour. Still, the “nuclear option” of shutting the whole money-losing enterprise down is apparently off the table “because of the political impossibility in France of such drastic action.” Check out the whole story.

Star-crossed [Financial Times] (via Eater)