Allure Of Private Dining Will Remain After the Pandemic
The 5-star soiree is here to stay.
The 5-star soiree is here to stay.
During the height of Covid-19, private dining was an alternative to sharing a restaurant meal with loved ones. But even as the pandemic dwindles and eateries welcome guests again, intimate, five-star hospitality remains in high demand.
“People are eager to reconnect with family and friends, and there’s no better way to do that around the table than with great food and wine,” says James Henderson, CEO of Exclusive Resorts, an elite vacation club based in Denver, Colo., with locations across the globe.
While private dining has long been associated with celebrations such as birthdays and anniversaries, guests are gravitating toward intimate environments for everyday occasions as well. “Casual private dining experiences are starting to play a larger role in the hospitality industry, and I think these experiences will only continue to grow in popularity moving forward,” Henderson adds.
No matter the circumstances, the allure of private dining lies in the intimacy, exclusivity, and extraordinary experience that accompanies it, according to Brian Mommsen, founder and CEO of Resident, a New York-based company hosting bespoke dinners in unique venues. Launched in 2018, Resident collaborates with Michelin-trained chefs from Gramercy Tavern, Eleven Madison Park, Per Se, and other top-tier New York restaurants to curate upscale events for small groups.
Since March, the startup has collaborated with Exclusive Resorts to offer its members multi-course food and beverage tastings in the vacation club’s Residences at Park Avenue Place in Midtown Manhattan. A member can host a table for up to eight guests for US$2,000. Resident’s chef-driven menus include dishes such as roasted corn, prosciutto, miso, and grits; carrot mousse tartlet; and Long Island crescent duck with lentils and cabbage.
While the chef presents and tells in-depth stories about each dish tableside, an expert sommelier describes the wine and dining guests participate in the conversation.
“We have found that guests thrive on the opportunity to personally interact with our talent, learning about their inspiration for each course firsthand, and getting to know the face behind the food, which is an impossibility at most restaurants,” Mommsen says.
David Pan and his wife, Tillie, of Orange Beach Concierge, based on the Gulf Coast of Alabama, have hosted intimate dinners for years. But due to the pandemic, the duo has restructured their well-received Chef’s Table to bring the concept to their guests, rather than have their guests coming to them.
Pan believes the attention put into each menu, the locally sourced ingredients and thoughtfully paired wines, along with dining in the comfort of one’s own home, all contribute to the appeal.
With an uptick in business over the past year, his team hosted more than 100 private dinners in 2020 and they’re on track to triple that number this year.
“We predict a heavy increase in 2021 and beyond, and from what our booking calendar looks like today, we are posed to beat 2019 bookings which was our most successful year in the history of our business,” Pan says. His menus include jumbo lump crab cake, goat fromage salad, and sous vide filet mignon with sable rice. Experiences range from US$175 to US$250 per person.
Lawrence Fairchild, proprietor of Stones Wine, Perrarus, and Fairchild Napa Valley, is set to debut House of Perrarus: A Stones Wine and Michelin three-star experience at his picturesque California estate. Deemed the “Hermés of wine” due to the exclusivity of his bottles, Fairchild offers his 95 to 100 point wines to members only, but will make them available to the public at his afternoon soirées, beginning in June.
The winemaker and the acclaimed Single Thread Farm—a farm, inn, and three Michelin-starred restaurant in Sonoma County—will curate five seasonal small plates paired with his wine collection: one Chardonnay, three Cabernet Sauvignons, and a Cabernet Sauvignon and Cab Franc blend.
“This idea stemmed from our clients’ desires for a more private and tasting dining experience,” Fairchild says. During the mid-day fête, guests can sit indoors or outdoors, depending on their preference. Cost is US$500 per person with capacity up to 10 guests.
In October, Chef de Cuisine Michael Vitangeli premiered The Chef’s Table at Scarpetta in The Cosmopolitan of Las Vegas. Rooted in Italian tradition, the six-course interactive dinner is personal for Vitangeli. “My grandmother Emelia Vitangeli played the largest role in shaping my culinary career, so it only made sense that she influence the Chef’s Table experience itself,” he says.
Vitangeli’s menu features homemade burrata, hand-pulled pasta, porchetta (pork belly), among other classics, plated alongside wine pairings presented by sommelier Kyle Asato. Staged in a dedicated dining room, the six-seat table overlooks the famous fountain show and Scarpetta’s kitchen, providing guests “a show from kitchen to table.” Vintangeli shares details and history on the dishes and wine to create a familial atmosphere. The cost is US$200 per guest.
The private fine dining trend has become more of a moveable feast, too. Last summer, Chef Yann Nury outfitted a 1971 Airstream Safari and hit the road, cooking up warm weather-inspired fare for small groups. His customized dinner parties start at US$15,000 for 12 people.
Although he and his team had always catered on the road, both domestically and abroad, they had never prepared gourmet dishes in a food truck. However, the chef considers the mobile kitchen to be a condensed version of what he had done before: focus on local delicacies and ingredients.
“It is in our DNA to bring our food and culinary experiences all around the world, but when Covid came, all this stopped suddenly,” Nury says. “I had to find a solution to stay afloat, but also to stay relevant.”
The French chef outfitted the Airstream with 19th-century oak floors, Charlotte Perriand lighting, Gaggenau appliances, a wine cellar, French copper pots, vintage Michelin guides, and fancy tableware before heading up and down the East Coast. In 2021 and beyond, Nury plans to spend summer in the East, fall out West, and winter in Florida, but he remains open to any destination.
“I believe it is the future of fine dining, a world that no one has paid enough attention to,” he says about the private dining trend. “It is, in reality, the ultimate luxury of culinary experiences.”
Reprinted by permission of Penta. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: June 5, 2021
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Apple’s growth engine is showing signs of slowing, as rising costs, weaker services growth and AI competition challenge its profitability. With John Ternus taking the helm, the pressure is on to reignite innovation and sustain investor confidence.
The Apple growth and profit machine is wavering, and the boost from price increases might not be enough to keep it going at historic rates. That dials up the pressure on Apple’s new chief executive, John Ternus.
The company saved the bad news for its earnings call, an hour after it posted its results for the September quarter, projecting that for the current quarter its high-margin services business will continue to slow and that its widely watched gross profit margin will continue to fall.
Apple AAPL -1.83%decrease; down pointing triangle shares had been flat in post-close trading but declined as much as 4% after the company made the projections, which fell short of Wall Street estimates.
The impact of high memory costs are weighing even more heavily on the company, Ternus and Apple Chief Financial Officer Kevan Parekh said on the company’s earnings call. Apple has stockpiled cheaper components purchased earlier, but those inventories are dwindling.
When Ternus took over as Apple’s third chief executive of the past 29 years on Sept. 1, he inherited sky-high expectations. The men he followed were among the most successful company leaders in American business history. Steve Jobs revolutionized consumer devices multiple times. Tim Cook expanded Jobs’s creation to spectacular heights.
The expectations are reflected in Apple’s huge valuation. Oppenheimer analyst Martin Yang noted that Apple stock trades at 36 times next year’s expected earnings, a premium to the overall market, even though its earnings are only expected to grow 1%, which is slower than its tech peers.
“We see insufficient upside to justify the premium,” Yang wrote in an investor note, adding that Apple needs to boost iPhone sales growth and turn around its slowing services business to make him more bullish.
Investors have bid up Apple shares because it has been a port in the AI storm—a reliable and capital-efficient business that stands apart from rivals which are spending hundreds of billions of dollars racing to the AI frontier.
While others invest in data centers, Apple has been pouring its own cash into buybacks and dividends. But that safety may be challenged if Ternus can’t speed up Apple’s innovation engine.
Apple’s lagging performance in AI was evident when its new “Siri AI” chatbot arrived this past quarter. Its long-maligned assistant was already stale the day it arrived, surpassed by agents such as Instinct and Muse that can complete multistep tasks for consumers, while Siri still sets kitchen timers.
Apple needs to give people reasons to buy its devices as they get more expensive. The company raised prices across the board last quarter to help offset higher costs. Without compelling new features, a big question is whether consumers will slow the frequency of iPhone upgrades.
The new iPhone Duo appears to be a bright spot. Consumers are scooping up the $1,999 foldable smartphone despite mixed reviews—so many that Apple can’t keep up with demand. Shipping dates jumped out to January soon after the device went on sale, a disappointment for the normally reliable Apple supply chain.
Apple said its revenue grew 12% in the September quarter, slightly ahead of Wall Street’s expectations. Its widely tracked gross profit margin, at 47.9%, also came in just ahead of analyst estimates.
Apple will need to find new growth avenues because a reliable engine during the Cook era—the services business—is slowing. Courts and regulators worldwide have limited Apple’s ability to charge developers big fees to distribute apps through its App Store, the biggest component of the company’s services segment.
One of its most lucrative App Store fee generators has been the ChatGPT app from OpenAI. Around the time Apple accused OpenAI of trade-secret theft this past summer, OpenAI began redirecting potential subscribers to pay via its website instead of the App Store, skirting Apple’s tollbooth.
Apple’s valuation has bumped up against a ceiling in recent weeks. Six times it traded above a $5 trillion market capitalization intraday before finally closing above the threshold, which it has already fallen back below.
News Corp, owner of The Wall Street Journal, has a commercial agreement to supply news through Apple services.