They are very tough. The average restaurant lasts three years or less. There is a high failure rate because people often get into it not understanding how complex a business it is, and not having the capital to stay the course. You need the right lease, you have to build a comfortable environment others will want to sit in, and it must be kept meticulously clean. You must be great at PR so people know you are there. You have to buy perishables from smart people, so you have to know how to get the right price, and buy only what you will need. Then you have to be a good manager. You have to be willing to work ungodly hours, from buying early in the morning to being open late at night, and do it six days a week.

I’d never recommend anyone get into the restaurant business unless he was absolutely committed to it and understood all the needs involved to make it a success.

What’s the impact of new investors in restaurants like hoteliers, real estate developers and casino operators?

You have the whole Four Seasons chain, the whole Ritz-Carlton chain, which operate their restaurants as loss leaders for their rooms. Their premise is that by having the best restaurant in town, or something that is close to being the best, it makes the entire operation look good. So they’re willing to spend money that no normal person would. Also, when they’re building a hotel they can build in a very fancy restaurant, whereas most restaurants try to fit their way into something that is already there.

Real estate developers are turning to restaurants for their chic factor. So they make it economically appealing for these people to come in.

Then there are the casino owners in Las Vegas. They’ve decided it helps the town and it helps the casino to have first-class name restaurants, and they’re practically giving them capital for the build-outs. They’re doing everything for them and charging a low rent.

It also makes for a flashier look, a different kind of feel to many new top restaurants, doesn’t it?

Absolutely. The Picasso Room at the Bellagio has got to have $100 million of art on the walls. So you’re talking about something that is totally part of promoting the hotel. There’s no way you can pay that off with food in a million years.

What are your revenues? A People magazine article a few years back said $20 million.

That was a guess on their part; it’s higher than that. But because we are a privately held company, we do not disclose those figures.

Where should one go to impress the in-laws or a business associate? How about for a romantic meal?

Our indexes help you to make those kinds of choices. We believe you have different needs on different nights. The idea that everyone wants to go to a three- or four-star restaurant every night, well, it’s a wonderful thing to do periodically, and you’ll find those restaurants at the top of our lists, but the vast majority of people are looking for something else much of the time. You know what everyone’s energy level is. You know what neighborhood you want to be in. You know if you have kids with you or not. All these factors are part of the decision.

Photograph by Rainer Behrens.