Three Michelin-Star Waterside Inn in Berkshire Posts Financial Loss Amid Rising Wage Costs
ByAinvest
Tuesday, Jul 9, 2024 9:41 am ET1min read
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In the heart of Bray, Berkshire, the three Michelin-starred Waterside Inn, a gastronomic marvel established by the influential Roux family, experienced a significant financial setback in 2023. According to reports, the restaurant endured a loss of £181,000, a stark contrast to its previous profit of £814,000 [1]. Despite maintaining stable sales, this culinary icon faced challenges retaining high-quality staff and managing escalating costs for ingredients, energy, and labor [2].
Founded by brothers Michel and Albert Roux in 1972, the Waterside Inn has been a beacon of classic French fine dining in the United Kingdom, with a rich history of championing young chefs and waiters [1]. The Roux family's influence on the British dining scene is undeniable, with their flagship restaurant, Le Gavroche, opening in London just five years earlier [1].
Under the leadership of Michel's son, Alain Roux, the Waterside Inn continued to thrive, earning three Michelin stars in the inaugural UK Michelin Guide in 1974 [1]. This achievement marked a significant milestone, as it was the first and only restaurant in the world, outside France, to retain three stars ever since [1].
However, in 2023, the restaurant faced unprecedented challenges. With a shortage of skilled workers in the hospitality industry, the Waterside Inn struggled to maintain its staffing levels, leading to increased labor costs [2]. Additionally, escalating costs for ingredients, energy, and labor put pressure on the restaurant's bottom line [2].
Despite these financial challenges, the Waterside Inn remains committed to its mission of providing customers with an unforgettable dining experience. With a team of more than 60 dedicated professionals, the restaurant continues to offer a unique blend of classic French cuisine and innovative techniques [1].
As the Waterside Inn navigates these financial tides, it serves as a reminder of the challenges faced by the hospitality industry as a whole, and the resilience and innovation required to weather them.
[1] https://www.waterside-inn.co.uk/our-story/
[2] http://www.kevineats.com/2023/10/the-waterside-inn-bray-united-kingdom.html
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Alain Roux's three Michelin-star Waterside Inn in Bray, Berkshire, suffered a loss of £181,000 in 2023, contrasting with a previous profit of £814,000, due to escalating wage expenses. Despite stable sales, the restaurant struggled to retain high-quality staff amidst the industry's staffing shortage and increased costs for ingredients, energy, and labor.
In the heart of Bray, Berkshire, the three Michelin-starred Waterside Inn, a gastronomic marvel established by the influential Roux family, experienced a significant financial setback in 2023. According to reports, the restaurant endured a loss of £181,000, a stark contrast to its previous profit of £814,000 [1]. Despite maintaining stable sales, this culinary icon faced challenges retaining high-quality staff and managing escalating costs for ingredients, energy, and labor [2].
Founded by brothers Michel and Albert Roux in 1972, the Waterside Inn has been a beacon of classic French fine dining in the United Kingdom, with a rich history of championing young chefs and waiters [1]. The Roux family's influence on the British dining scene is undeniable, with their flagship restaurant, Le Gavroche, opening in London just five years earlier [1].
Under the leadership of Michel's son, Alain Roux, the Waterside Inn continued to thrive, earning three Michelin stars in the inaugural UK Michelin Guide in 1974 [1]. This achievement marked a significant milestone, as it was the first and only restaurant in the world, outside France, to retain three stars ever since [1].
However, in 2023, the restaurant faced unprecedented challenges. With a shortage of skilled workers in the hospitality industry, the Waterside Inn struggled to maintain its staffing levels, leading to increased labor costs [2]. Additionally, escalating costs for ingredients, energy, and labor put pressure on the restaurant's bottom line [2].
Despite these financial challenges, the Waterside Inn remains committed to its mission of providing customers with an unforgettable dining experience. With a team of more than 60 dedicated professionals, the restaurant continues to offer a unique blend of classic French cuisine and innovative techniques [1].
As the Waterside Inn navigates these financial tides, it serves as a reminder of the challenges faced by the hospitality industry as a whole, and the resilience and innovation required to weather them.
[1] https://www.waterside-inn.co.uk/our-story/
[2] http://www.kevineats.com/2023/10/the-waterside-inn-bray-united-kingdom.html
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