Per Se, the Second Most Expensive Restaurant in NYC, will Raise Prices in 2016

per-seThe second most expensive restaurant in NYC, after Masa, is ranked to be Per Se. Thomas Keller’s Per Se is already priced at $310 including service and the dinner menu. However, in 2016 there will be a raise in its prices to $325. This increase will clear the way for other restaurants to follow suit as restaurants across the city prepare to grapple the cost of minimum wage increases and increasing food costs.

The three Michelin-starred venue hiked its prices, typically does every two to three years, was in early 2014 after the state’s minimum wage went up by 75 cents to $8. The upcoming hike concedes with the increase in the restaurants prices with the minimum wage increasing by a quarter to $9, and the tipped-minimum by 50 percent to $7.50.

Per Se will unlikely have a direct impact from the changes in regulation as tipped minimums don’t apply because service is included already in Per Se’s system. But the minimum wage change can influence the overall composition of hte labor force, and cause those that are already making more than minimum to seek corresponding raises to avoid salary compression with those receiving government-mandated increases. Per Se’s increase in $15 is deemed to be valid considering new federal overtime regulations, rising food costs, the ned to give merit-based raises to retain staffer.

With the increase in labor force in New York City, many restaurant owners have diverged in ways to cope with and strategically arouse the new regulation. Danny Meyer has eliminated tipping and instead raised menu prices, while Per Se is raising prices by $15 with already menu included tips. Overall, restauranteurs are finding alternative solutions to earn revenue to cover increasing costs. Dining out will become, even more, expensive in the following years with Cuomo’s integration of the $15 minimum wage campaign.

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