One of my favorite restaurants is Bern’s Steak House in Tampa. If you don’t order any wine, you could probably get out of there for $120 per person including tax and tip (menu with some $50 entrees, but you’re going to need an appetizer and you can’t go to the separate dessert room without ordering dessert (and you can’t go to Bern’s without going to the dessert room!).
How is $120 plus wine underpriced? You need to book 90 days in advance to get a table (we recently tried for a Tuesday and a Wednesday evening, a week in advance and then a month in advance, and failed on both attempts). Bern’s would have to raise prices substantially to reduce demand to the point that the restaurant was full and bookable by those who can’t plan their meals three months in advance.
Maybe it was always like this? Not in 2014. A group of us made a last-minute reservation while at Sun ‘n Fun in nearby Lakeland.
Maybe they’re afraid to raise prices to what would ordinarily be considered a market-clearing level, even if they can discount during slow summer months. They wouldn’t want people to walk away saying “The food wasn’t any better than at a restaurant with lower menu prices.”
What if they auctioned the seats, though, the way that a European discount airline does? Charge people a reservation or booking fee, that could be $1 (90 days in advance of a Monday night in the summer), $75 per person (3 days in advance of a Friday night in December), or $150 per person (last-minute Saturday night table). By the time the bill for the actual meal comes, the customer might have forgotten the pain of having paid for the reservation. Right now it seems as though the restaurant is leaving at least $30 per customer in pure profit on the sidewalk as well as disappointing those who are willing to pay the market-clearing price.
Related:
- From 2014 (“BB” (Before Bidenflation)) … “Want To Dine Out? You May Need To Buy Tickets — Or Bid On A Table” (NPR): Other restaurants are even pondering auctions for tables, selling them off to the highest bidder. And even though Alinea doesn’t do that, bidding already occurs for Alinea tickets on other websites. … A new ethics-challenging startup called ReservationHop is another. In its initial form, ReservationHop booked tables at popular restaurants under assumed names, and then sold those reservations on its website.
To my eyes, that portion (even for two) is gross. But more worrying are the sharp-ended toothpicks. In New Zealand, once, busy talking at the same time as eating, I failed to notice that such a toothpick had entered my mouth and had been broken up by chewing and swallowed. Part of it stuck across my oesophagus and I had to have a barium meal to reveal it on an X-ray and have it removed under anaesthetic, two teeth being chipped by the removal device.
So today, I certainly would not eat either as much or at all in that restaurant.
Bernie, the picture looks like of a customer selected raw meat from a cold room to be prepared.
Even in America nobody staples receipts to ordered dish. And it look way to rare for human consumption. Would work for a dog though.
I would not have thought about the sharp ended toothpicks until you mentioned it. Requiring a medical procedure with anesthetic and then dental work would definitely drive up the total price of the steak. Wine along with busy talking would add on to the risk.
“In New Zealand, once, busy talking at the same time as eating, I failed to notice that such a toothpick had entered my mouth and had been broken up by chewing and swallowed.”
I think there are other lessons to be learned here rather than forcing the restaurant to use more easily edible toothpicks.
120 in doll hairs is the same price the internet quotes for meals in Thailand in baht. Exchange rates these days sound more like a play to promote trade than an actual equivalence of value. The price of food is the same in doll hairs as baht, while the exchange rate pegs baht as worth much less. The price of houses in Japan is 1 million yen, the same in yen as a house in US in doll hairs even though the exchange rate pegs yen as worth much less.
Have seen similar phenomenon in Rehoboth Beach, Delaware https://1776steakhouse.com/ Even though beef prices are up almost 100% since January 2021, 1776 owner seems to be absorbing a lot of that run-up in his costs. I happen to be vegetarian/pescetarian, but same situation with the lobster tail ($33, or $39 with crab imperial stuffing), when the price of lobster meat has increased significantly since spring 2021, and crabmeat is almost $60/lb. So back before we reverted to take-out only (Omicron phobics, fully vaccinated & boosted with three doses of Pfizer notwithstanding), we went to 1776 with another couple. Two bottles of wine, steaks for everyone but myself who ordered the lobster, and desserts for me and the husband in the other couple (a steal at $10 for housemade crème brûlée), and Oysters Rockefeller for a shared app among the three who eat shellfish. I tipped 20% which is not my pre-COVID tipping whatsoever, when I rarely tipped anything other than 15%. So maybe the owner needs to retain his waitstaff, and figures diners will tip more generously when the prices seem less than market-clearing? Similar situation at less pricey restaurants, e.g., Mexican where the beef fajitas price hasn’t been raised at all even though I think the owner should have raised it. This particular Mexican restaurant was struggling with the high price of avocados a few years ago (maybe 2018 or 2019). Owner told me at the time that she was paying double vs. the past for a crate of 24? 48? Hass avocados. She happened to say that she doesn’t want to impose an upcharge for guacamole as she felt it would annoy her loyal customers. I have not had a chance to ask her why hasn’t raised her prices more in 2021, although I noticed she raised my favorite tres leches cake from $7 to $9. Bon appétit à tous!
More importantly was Joe Biden there?
Ha! Once Biden took office in 2021, he stopped going out much in public when using his North Shores, Rehoboth, home. However, he regularly worships at St. Edmond’s Church when he spends weekends here — I just chose the wrong Mass the one time I tried to catch a glimpse this past November. But the days of spotting him as I did at the local Browseabout Books on Rehoboth Avenue summer 2018 are probably gone. In fair weather, if you’re lucky, you can pass him & Dr. Jill on the bike trail. I’ve twice missed them and their Secret Service contingent by an hour or two. He has placed large orders at a local Italian restaurant, but reliable sources say the Secret Service comes to pick up the food. There is a checkpoint about 2 blocks before his home whenever he’s in town. And 365 days/year, there are two Secret Service vehicles in the driveway, pointed outward, to be able to move quickly? At least one of them has its engine running 24/7 according to gf who lives very nearby. They are mid-size combustion engine vehicles. So much for fighting climate change on a personal level if you’re POTUS. I actually had a short conversation with Biden summer 2018 outside the bookstore — it was more than 6 months after he’d left the VPresidency (Jan 2017) so Secret Service protection had been removed. Near his home, I saw him at the wheel of an SUV several times, with Dr. Jill in the passenger seat, when out on my bike in 2018 & 2019. At least one of them waved back to me.
The “Dining Experience” market has not shown any inclination to raise prices for a market clearing event. Examples where this is prevalent:
1. Little Inn at Washington. Finding a dining reservation only there was found in August of 2022 and that was the first one I could find when I started my search in December of 2021
2. Alinea in Chicago. Yet another dining experience that would take months to find a reservation
3. Mini-Bar in DC. Jose and his team do a lot of great things therefore booking a reservation there translates into a game of “chance” and “hope”
A number of other dining experiences could be listed, but the theme is the same. The prices have not been changed to generate a “market clearing event”, therefore it would appear that quality continues to prevail in the industry.
Doesn’t seem that Bern’s primary objective is to maximize profits. Their immense wine list shows lots of good value at every price point so a couple enjoying a $250 meal could tack on $30 (plus tax and gratuity) and have a nice bottle of wine. You would also think that their massive alcohol inventory would have to affect profitability and that it exists for reasons other than profit maximization. Their concept seems straightforward so have competitors tried to replicate what they offer, perhaps fronted by former employees? Could be that the business is not enormously profitable, that it primarily exists to provide income to the family and employees and a good experience for the customers — who feel they have paid a reasonable price for what they received & that tampering with the formula is not worth it to the controlling family.
I enjoying dining out but I also like to cook. You can buy a lot of nice ribeye (sans toothpicks) for that amount of money to cook at home. Excellent red wine starts around ~$40 a bottle.
According to my last visit to Walgreens supermarket (not pharmacy), Bern’s steak meals are cheaper then raw marbled tipple A grade steak meat at the Walgreens. And Walgreen steaks looked aged (in the store).
Of course, at the butcher’s (here in the hinterland we are blessed with several butcher shops) it is much more affordable, but butchers do not sell small portions.
While I don’t doubt the quality of the Bern’s experience, I suspect you might be missing that the difficulty getting a reservation adds to the desirability of the experience. In other words for a restaurant a line out the door is a long term marketing strategy, a sustainable alternative to milking every last $ in the present. Bern’s could also choose to open more branches and become a chain, hell, they could even franchise, but maybe they know that they’re onto a good thing now, and don’t want to mess it up? Relevant, perhaps, to point out that online reviews, Yelp, etc, are not uniformly positive, and the business manager seems to respond to every one, positive and negative, signalling they don’t take their longstanding (since ’50s) success entirely for granted.
It looks to me like you’re paying $120 for a $5 steak. Who cares if the steak price increases to $6. They’re not selling organic, grass fed filet mignon which would be $30/pound. You’re not even paying for top chefs since steak is such a standard that no innovation or complex processs needed. You’re paying for the fancy decor and fake experience of exclusivity and this is all a sunk cost that is not inflating. Ruth’s Chris is selling the exact same type of thing: poor quality meat with a veneer of classism, albeit in a nationwide chain format.
I think chicken breast now costs $5. Filet mignon is the lowest grade of meat that is considered steak.
John: If you doubt that a steak can be ruined by a chef’s incompetence, come over any time when I’m at the grill!
Costco sells filet steaks at about $20+ per pound in our neck of woods. And those are not organic -grass-fed-free-range-responsibly-sourced-unicorn-produced beef steaks. I’d imagine that puts base price for somewhat fancy steak dinner at $50-60?
Anonymous, depends on what is called “steak”. Here is the online price for 2 raw 24 oz porterhouse steaks: https://www.omahasteaks.com/product/Private-Reserve%AE-Porterhouse-Steaks-2-24-oz-03308 $150 – $200 + seems to be regular price just for ingredients and is consistent with other prices, some a little cheaper and some a lot more expensive. I assume that people reserve 3 moths in advance doe prime meat. Otherwise I suggest going for Burger King angus beef. Have not nee there in ages but expect angus beef burger be under $20 there.
The fine print is important. When you all are focusing on the filet, notice the glaring omission in “All of our Strips, Delmonicos, Porterhouses and T-Bones are U.S.D.A. Prime, and are dry-aged in house for 5-8 weeks.” John is very perceptive.
@LSI: > Filet mignon is the lowest grade of meat that is considered steak.
I am glad you said that. Scott Rea also considers filet mignon cuts to be overpriced and underflavoured nonsense meat for people who like to impress themselves by pronouncing French-sounding words and paying more money.
Here is his favorite cut, at least for roasts: Tail End of the Rump
https://youtu.be/DvIxvs39nBQ?t=1052
And this beautiful cut, “Prime Cut of the Topside”
https://youtu.be/DvIxvs39nBQ?t=1312
Rock and Roll Butchery, Baby! He’s got many more videos.
@LSI: And I don’t mean to put words in his mouth – they’re mine after having had filet mignon several times. He’s not as colorful, but here he is extracting the fillet:
https://youtu.be/JF4mBhYWBCk at 2:04.
Some people prize it because it is very lean and does almost no “work” but my tastes disagree.
@LSI – I did mention this is not hi-fi steak for afficionados. I’d still argue that fast food “steak” is sourced differently, and there is middle ground between Burger King and $200 per steak joint.
Their menu prices are very reasonable to my eyes, considering that every steak entree comes with French Onion Soup + House Salad + Dressing, etc. Say the 16oz Strip Steak: $59. Think about it in, say, 1995 dinero for the equivalent at a very good/excellent steakhouse in 1995: That’s $33.91 in 1995 and around that time I paid that much or more for a good steak + soup and salad easily. It’s a big steak and I’ll be the other portions are reasonable-to-generous.
https://menus.today/menu/223671.html
They’re underpriced! I’m impressed and I hope they stay that way! They should open another location, maybe two! I’d love one here in MA. I’m not a caviar man so that don’t matter to me worth a pile of fish eggs.
Sorry, typing fast: the steak entrees also include baked potato, a vegetable and more. Their sauces and “final touches” are also very reasonable. It seems to me they’ve got a very good “luxury with value” proposition. MA Bern’s! MA Bern’s!
At this great pricing could 90 day waiting list mean new form of hoarding? I.e. someone reserves let’s say Tuesday and Saturday night recurring dining for weeks in advance? Web reservations sure can be used to do just that.
@LSI: That’s a very good point because unless they check ID or find some other way to defeat it, it sounds like an easy system to game, at least at first glance. I suppose the restaurant managers & servers would start to see a pattern over time if people abuse it. Opening another restaurant wouldn’t necessarily cure that, but maybe it would make it less attractive to attempt, and it almost invites someone else to open a similar place…”Can’t get a Bern’s reservation? Check us out!”
Everybody has seen “Ferris Bueller’s Day Off” and gaming the online reservation system would only be a little “fast forward” twist on that. Surely a postmodern Ferris Bueller could manage it:
Debating buying a Baron or some comparable twin since 2021 gave my first baby and flying in a single is more cramped than expected.
Lots of good twins seem to have appreciated on controller.com due to inflation. Also I worry about climate change flooding new Florida residents out. Happy New Year!
Talk me out of it.