Costas Spiliadis, the 78-year-old founder of Estiatorio Milos, has managed to transform a small restaurant in Montreal into an iconic New York seafood establishment with multiple locations around the world. His journey from Greece to the bustling streets of New York City is a testament to his entrepreneurial spirit and dedication to quality in the hospitality industry.
Spiliadis’ restaurant group stands out as one of the most powerful family-owned firms in luxury hospitality. With full ownership of the Milos business, he and his family have maintained control over the direction and growth of their establishments. In an industry where outside funding is common, Spiliadis has chosen to chart his own course, focusing on quality over rapid expansion.
One key aspect of Spiliadis’ success lies in his commitment to quality. By sparing no expense on the fish they source and the prices they charge, Milos is able to retain more profits than most high-end restaurants. Despite the high cost of some dishes, customers are willing to pay for the exceptional quality and dining experience that Milos provides.
Spiliadis understands the importance of maintaining the reputation and character of his restaurants as he expands. Instead of relying on external funding and rapid growth, he chooses to use cash flow to build new locations at a slower pace. This method allows him to retain control over the unique atmosphere and soul of each restaurant, ensuring that every new venture upholds the standards he has worked hard to establish over five decades.
With eleven restaurants spanning from Miami to Dubai, as well as additional ventures such as yachts for charter and a boutique hotel in Greece, Spiliadis shows no signs of slowing down. His hunger for new ventures and dedication to quality continue to drive his success in the hospitality industry. Siddhi Capital’s recent $135 million Fund II closure reflects the growing interest in food and beverage brands with operational expertise, making it an exciting time for innovative entrepreneurs like Spiliadis.
Costas Spiliadis’ journey from Greece to New York City and his success in building a global hospitality empire underscore the importance of quality, dedication, and strategic growth. By prioritizing the unique character and soul of each restaurant, Spiliadis has managed to carve out a niche in the competitive industry, setting a high standard for luxury dining experiences around the world. As he continues to innovate and expand his ventures, Spiliadis remains a shining example of entrepreneurial success in the ever-evolving landscape of the food and beverage industry.