The Fine Dining Flip
When Chateau Royale opened in New York City last year, it embodied the city’s rising “swankstaurant” moment, in which the saturation of the steakhouse gave rise to “a new age of gloss,” per Grub Street’s Matthew Schneier. At Chateau Royale, a single-bite beggar’s purse of caviar and crème fraîche went for $39. A $72 lobster […]
In New York City, the upscale Floradora restaurant recently took over the space previously occupied by the high-end Chateau Royale. Co-owner Cody Pruitt explained that Floradora offers a more relaxed, everyday luxury experience compared to Chateau Royale's tuxedo-clad familiarity. The menu at Floradora features more affordable options such as mozzarella sticks for $17 and vodka sauce pasta for $25, while still offering steak frites at $49, which is more reasonably priced than Chateau Royale's $69 offering.
Despite still offering tableside martinis, the prices have decreased since servers now pour the drinks at each table. Over the past few months, Pruitt and his business partner have made similar changes to their other restaurants, showing a trend in the industry of flipping upscale establishments into more affordable concepts to better suit the current economic climate.
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